JGBs mostly steady, super-long yields dip on prospect of reduced issuance

TOKYO, Nov 22 (Reuters) - Japanese government bonds were mostly steady on Wednesday, with the exception of super-long yields which dipped on prospect of Japan reducing the maturity's issuance amount.

The 40-year yield was 1.5 basis points lower at 0.965 percent. The 30-year yield stood unchanged at 0.810 percent after going as low as 0.805 percent.

Japan's government is set to reduce the amount of newly issued 30-year and 40-year JGBs for the next fiscal year starting in April 2018, government sources told Reuters on Tuesday.

The finance ministry expects demand for super-long JGBs from investors such as life insurers to wane in the future.

The five-year yield and the benchmark 10-year yield were unchanged at minus 0.135 percent and 0.025 percent, respectively.

While overnight gains by U.S. Treasuries were positive for JGBs, the impact was neutralized by a rally in Tokyo equities.

($1 = 112.2800 yen) (Reporting by the Tokyo markets team; Editing by Sherry Jacob-Phillips)