Japan’s Bonds Rise for Second Day on Stronger Yen, Stock Losses
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Japanese government bonds advanced for a second day as stocks slumped on concern a strengthening yen will jeopardize the nation’s export-led economic recovery.
Five-year notes led the gain after the yen rose to a 15-year high versus the dollar, spurring demand for the refuge of government debt. Five-year yields fell from the highest level in eight weeks on speculation the Bank of Japan will introduce additional measures to keep interest rates low after yesterday pledging to take “timely and appropriate” action if needed.