The strongest demand at Japan’s 30-year bond sale since 2019 suggested that investors are finally stepping back in due to higher yields, bringing some respite to a market that’s bracing for an interest-rate hike.
The 30-year yield dropped three basis points to 3.39% after the bid-to-cover ratio at the Ministry of Finance’s offering jumped to 4.04, higher than that at the previous auction and comfortably above the average for the past year.
AloJapan.com