Japan Long-Dated Bond Yields Rise Despite Firm Demand at Sale

Japanese government bond prices dropped Thursday, sending yields higher across long-maturity debt, even after firm demand at a sale of 30-year securities.

Thursday’s auction saw slightly stronger demand than the 12-month average as higher yields underpinned buying. The bid-to-cover ratio rose to 3.49, compared with 3.12 at the previous sale, and the 12-month average of 3.37.