TOKYO, May 27 Reuters Japanese government bond held steady on Thursday, after an auction of 600 billion yen 5.5 billion of 40year paper was met with ample demand.
It was a good result, said a market participant at a domestic securities house.
Even though there was 100 billion yen more bonds on offer this time, the bidtocover ratio was the same as the previous auction, confirming solid demand.
The bidtocover ratio, a measure of demand that gauges the size of bids at an auction against the amount of securities sold, was 2.80.
The 40year JGB yield was flat at 0.725, while the 30year yield fell half a basis point to 0.665.
The 10year and 20year yields were unchanged at 0.070 and 0.440 respectively.
Yields on fiveyear and twoyear paper each retreated half a basis point, to 0.105 and 0.135 respectively.
Benchmark 10year JGB futures rose 0.06 point to 151.58.
Reporting by Tokyo Markets Team; Editing by Rashmi Aich