Long-end JGBs firm ahead of 20-yr auction in quiet trade
TOKYO, (Reuters) - JGB futures edged higher on Tuesday and cash bonds traded flat to slightly firmer, with 20-year bonds leading the way even ahead of an auction of that tenor.
The 20-year bond yield stood at 1.480 percent , one basis point firmer. The buying in the 20-year sector surprised participants who had anticipated that there would be pre-auction, set-up trades.
The December futures moved in a very narrow 144.72-78 range and stood at 144.75 at midday, up by just 0.03 point from Monday.
It was another quiet session for JGBs. Volume on the exchange was very light with only 6,600 lots trading.