Japan Surprises With Bigger Cut to Super-Long Bond Issuance

Japan is planning to cut the issuance of super-long bonds this year by more than earlier reported as it tries to restore calm to a market spooked by recent record highs in yields.

The Finance Ministry proposed reducing the issuance of 20-, 30- and 40-year bonds by a total of ¥3.2 trillion ($22 billion) through the end of March 2026, according to a plan presented by the ministry during a meeting with primary dealers on Friday.