Japan Yields Drop to Lowest Since 2003 on Growth Concern
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Japanese government bonds advanced, pushing benchmark yields to the lowest level since June 2003, as concern that the U.S. economic recovery is losing momentum bolstered demand for the relative safety of government debt.
Yields on benchmark 10-year securities fell as domestic stocks tumbled for a fourth day, following a report last week that showed the U.S. unemployment rate unexpectedly rose. Japan’s Ministry of Finance is scheduled to sell 2.3 trillion yen ($29.4 billion) in 10-year notes tomorrow.