Japan 10-Year Yield Falls to 17-Month Low on Haven Demand
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Japan’s bonds rose, sending the benchmark 10-year yield to a 17-month low as Asian stocks fell amid concern the European debt crisis is spreading, boosting demand for the relative safety of government debt.
Bonds also advanced as Bank of Japan Masaaki Shirakawa said today the central bank is doing its best to overcome deflation, spurring speculation that the BOJ will ease policy further at a meeting later this month. The Ministry of Finance is set to auction 2.5 trillion yen ($31 billion) of five-year notes tomorrow.