TOKYO, June 19 (Reuters) - Japanese government bonds
rose on Thursday as details emerged about a plan to reduce
overall issuance, and as an auction of five-year notes showed
strong demand.
The five-year yield fell 2.5 basis points
(bps) to 0.98%. The 10-year yield slipped 2 bps
to 1.435%.
Japan's government plans to cut sales of super-long bonds by
about 10% from its original plan, a draft document seen by
Reuters showed.
An auction of five-year notes by the Ministry of Finance
had a bid-to-cover ratio of 4.58, compared to 3.189 at the
previous sale in May, and indicated increased demand.