Bonds
Demand Is Weak in First of Two Key Auctions of Japanese Bonds
- There is growing vigilance before auctions: Mizuho Securities
- JGB 10-year and 30-year auctions are scheduled this week
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The Japanese government’s auction of 10-year bonds met weak demand on Tuesday, adding to the challenges of policymakers after investors baulked at the yields on offer in sales last month.
The Ministry of Finance sold 10-year notes on Tuesday with a lower-than-expected cut-off price, indicating limited appetite from investors. That resulted in an average yield of 0.657%, the highest in more than nine years.