TOKYO, July 7 (Reuters) - Japanese government bond (JGB)
yields held near multi-decade highs on Tuesday as fiscal and
inflation concerns loomed before a sale of super-long-term debt.
Here are a few details:
* The benchmark 10-year JGB yield was
unchanged at 2.830%, holding at the highest level since October
1996. Yields move inversely to bond prices.
* The yield on the 30-year JGB climbed 1
basis point (bp) to 4.085%, the highest since May 20.
* The Ministry of Finance will sell about 600 billion yen
($3.70 billion) in 30-year securities later in the session.
* JGB yields have been on the rise this month, particularly
in the long and super-long end, driven by inflation concerns, a
sharply weaker yen and worries about fiscal expansion.
* "This auction is therefore closely watched as a key
indicator for gauging where the market will stabilise in the
near term," Keisuke Tsuruta, a senior bond strategist at
Mitsubishi UFJ Morgan Stanley Securities, wrote in a note.
* The yield on the 20-year JGB was unchanged
at 3.805%, the highest in data going back to 1999.
* The two-year yield, the one most sensitive
to Bank of Japan policy rates, held steady, while the five-year
yield was unchanged at 1.940%.
($1 = 162.1500 yen)