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Japan's key bond yield rises to 0.6%

May 8, 2014

The yield on the bellwether 10-year Japanese government bond ended slightly higher Thursday reflecting a rebound in Tokyo shares, with investors showing muted reaction to the outcome of a 10-year government bond auction.

The yield on the No. 333, 0.6 percent issue, the main yardstick of long-term interest rates, ended interdealer trading at 0.600 percent, up 0.005 percentage point from Wednesday's close.

The price of the June futures contract for 10-year bonds declined 0.07 point to 145.14 on the Osaka Exchange.

Earlier Thursday, the Finance Ministry sold new 10-year Japanese government bonds at an auction with a coupon of 0.6 percent, unchanged from last month.

The benchmark long-term bonds, which will be newly issued Monday, drew 7,755.3 billion yen in bids, of which the ministry accepted 2,190.5 billion yen.

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Source: Japan Economic Newswire

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