Japan’s 30-year government bond auction drew a stronger demand ratio than its 12-month average, easing investor concerns following the surprise victory of pro-stimulus conservative Sanae Takaichi in the ruling party leadership race.
The bid-to-cover ratio, a key measure of demand, was 3.41, compared with 3.31 at the previous auction and a 12-month average of 3.37. JGB futures pared losses after the result.
AloJapan.com