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JGB prices slip, hurt by weaker yen and Nikkei rally

Thursday, 21 Nov 2013 | 9:33 PM ET

TOKYO, Nov 22 (IFR) - Japanese government bond prices eased on Friday, hurt by risk-on sentiment as the yen slumped to a 4-1/2 month low against the dollar and the Nikkei share average scaled a six-month peak.

The 10-year yield was up 2 basis points at 0.645 percent, touching a one-week high, while 10-year JGB futures dipped 0.11 point to 144.66.

Several regional banks were seen buying 10-year JGBs on dips in the early morning, though domestic real-money accounts largely stay sidelined ahead of a 300 billion yen ($3 billion) liquidity enhancement auction for old 10- and 20-year JGBs, traders said.

Both the 20- and 30-year yields added 1 basis point, to 1.510 and 1.67 percent, respectively.

The Nikkei was up 1 percent at 15,525.55 in late morning trade. The yen was quoted at 101.18 to the dollar after falling to a 4-1/2 month low of 101.36 earlier in the session.