Japan’s Bonds Decline as Asian Stock Gains Sap Demand for Safety of Debt

Japanese government bonds dropped as Asian stocks extended a global rally in equities, sapping demand for the relative safety of government debt.

The yield on the 20-year bond rose 2.5 basis points to 1.765 percent as of 2:55 p.m. in Tokyo. The MSCI Asia Pacific Index of stocks gained 1.1 percent. Japan’s markets re-opened today after the New Year holiday.

To contact the reporter on this story: Masaki Kondo in Singapore at mkondo3@bloomberg.net

To contact the editor responsible for this story: Jonathan Annells at jannells@bloomberg.net

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