TOKYO, June 26 (Reuters) - The longest-dated Japanese

government bonds gained on Thursday, pushing yields lower, while

shorter-dated securities edged down as markets continued their

adjustment to the finance ministry's revised issuance plans.

At the same time, a smooth auction of two-year notes during

the session offered some support for those securities.

In a draft plan reported by Reuters a week ago, the ministry

will reduce sales of so-called super-long bonds by about 10%

from its original plan. Overall issuance will be lower, but some

of the reduction in the super-long sector will be made up with

increased issuance of short-term debt.

The two-year JGB yield was flat at 0.715%

following the auction results, undoing an earlier 0.5 basis

point (bp) rise.

"Going forward, the trajectory of (two-year JGB) yields will

hinge chiefly on two catalysts: movements in medium-term U.S.

Treasury rates, which remain susceptible to political

developments, and evolving market expectations surrounding the

Bank of Japan's policy rate," said Shoki Omori, chief desk

strategist at Mizuho Securities.

"Should expectations for policy rates shift, yields could

well climb further."

Markets currently see only 46% odds of the BOJ raising rates

again by year-end amid the uncertainty caused by U.S. trade

tariffs.

The five-year JGB yield rose 1 bp to 0.955%,

and the 10-year yield added 0.5 bp to 1.40%.

Benchmark 10-year JGB futures edged down 0.02 yen

to 139.39 yen.

By contrast, the 20-year and 30-year

JGB yields each slid 1.5 bps, to 2.30% and

2.885%, respectively.