Japanese govt bond prices end morning lower ahead of auction
Published August 2nd, 2007
Japanese government bond prices ended Thursday morning session lower as investors pocket yesterday’s gains ahead of the auction today of the new 10-year government bonds.
‘While we think that the auction of the 10-year debt papers will go smoothly, sales in the secondary market may take some time,’ Lehman Brothers (nyse: LEH - news - people ) strategist Makoto Yamashita said.
Japan’s Ministry of Finance said this morning it has set a coupon of 1.8 percent on 1.9 trillion yen worth of 10-year government bonds it will auction Thursday, lower than the 1.9 percent coupon given at the previous auction of 10-year debt last month.
The results of the auction will be announced at 12.45 pm (0345 GMT).
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