JGBs little changed, 5-yr auction draws solid bids

TOKYO, April 15 (IFR) - Japanese government bond prices were little changed on Tuesday, erasing small earlier losses after an auction of five-year JGBs drew solid bids.

The 10-year JGB futures ticked up 0.04 point to 145.09 , coming back from the day's low of 144.99.

The auction of 2.7 trillion yen ($26.5 billion) in five-year JGBs drew bids 4.67 times the offer, the highest bid-to-cover in six months.

The new bonds fetched the lowest accepted price of 100.04, slightly above market expectation of 100.03, for a high yield of 0.191 percent.

The 10-year cash JGB yield stood at 0.605 percent , up 0.5 basis point from Monday.

($1 = 101.8500 Japanese Yen)

(Reporting by Masatsugu Hisatsune; Editing by Eric Meijer)