Japan’s long-term bond yields extended their push to record lows, driven by a shortage as the central bank buys record amounts of securities. Investors are hoarding the debt because it still pays interest, while shorter maturities have negative yields. “We’re in a situation where traders have no stock of the bonds,” said Hideo Suzuki, the chief manager of foreign exchange and financial products trading at Tokyo-based Mitsubishi UFJ Trust & Banking Corp.

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