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Super-long JGB yields dip on auction, but soft U.S. Treasuries weigh

TOKYO, Feb 4 (Reuters) - Yields on super-long Japanese government bonds dipped on Thursday after an auction of 30-year notes drew solid demand while those on shorter maturities were little changed, curbed by softness in the U.S. debt market.

Japan’s finance ministry received bids worth 3.47 times the amount of bonds offered, which was higher than the bid-cover ratio of 2.98 times at the previous auction of 30-year debt last month.

The results supported the long end of the market.

The 20-year JGB yield fell 0.5 basis point to 0.455%, while the 30-year yield shed 0.5 basis point to 0.660%.

The 40-year JGB yield slid down 0.5 basis point to 0.700%.

But shorter maturities failed to catch up, after U.S. Treasury yields rose overnight on stronger economic data and a push in Washington to pass a massive relief plan to aid the coronavirus-battered economy.

Benchmark 10-year JGB futures fell 0.12 point to 151.62, while the 10-year JGB yield was flat at 0.055%.

The two-year JGB yield and the five-year yield were also flat at minus 0.130% and minus 0.110%, respectively. (Reporting by Tokyo markets team; Editing by Krishna Chandra Eluri)

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