Japanese government bond futures were higher on Monday but shed some of their early gains, capped by upcoming bond sales that weighed on longer-dated cash bonds and steepened the yield curve.
* September 10-year JGB futures were up 0.02 point at 140.92 after initially rising to 141.06 in response to firmness in U.S. Treasuries and falls in domestic share prices <2JGBv1>.
* The five-year yield rose 0.5 basis point to 0.420 percent . The benchmark 10-year yield rose 0.5 basis point to 1.135 percent, staying within striking distance of a six-month trough of 1.105 percent hit last month.
* Market players said superlongs were sold as participants made room for Wednesday's 1.1 trillion yen ($13.6 billion) 20-year JGB auction, and other maturities were dragged down by the weakness of superlongs.
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