TOKYO, March 6 (Reuters) - Japanese government bond prices slipped on Tuesday as Tokyo stocks surged amid an easing of trade war fears and reduced demand for safe-haven debt.
The 10-year JGB yield rose half a basis point to 0.045 percent and the 20-year yield also rose half a basis point, to 0.535 percent.
Japan's Nikkei surged more than 2 percent, tracking a rise in global equities, with trade war concerns easing somewhat after senior Republicans urged President Donald Trump to reconsider his threat to impose tariffs on imported steel and aluminium.
Despite such headwinds facing the bond market, Tuesday's 800 billion yen ($7.52 billion) 30-year JGB auction attracted ample demand.
The bid-to-cover ratio, a gauge of demand, at the 30-year auction was 4.24 and above 3.80, the average from the past 10 auctions.
The new 30-year JGBs were seen to have drawn demand from investors like pension funds looking to adjust their portfolios before closing their books at the month's end, which marks the end of the domestic fiscal year. ($1 = 106.3400 yen) (Reporting by the Tokyo markets team; Editing by Gopakumar Warrier)