Japan’s 30-Year Bond Auction Draws Decent Demand After BOJ Hike
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Japan’s auction of 30-year sovereign notes met decent demand on Thursday as rising yields after turmoil in global debt markets lured long-term investors.
The average bid-to-cover ratio for the debt rose to 3.47, the highest in two months, in the sale by the Ministry of Finance of ¥900 billion ($6.1 billion) of benchmark bonds maturing in June 2054. The lowest price accepted was ¥99.3, exceeding the ¥99.15 forecast by market participants.