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Japan's 20-year bond yield falls sharply after strong auction
TOKYO: Japan’s 20-year government bond yield fell sharply on Tuesday after a strong auction for the bonds with the same maturity lifted sentiment. The 20-year JGB yield fell as much as 6 basis points (bps) to 3.71%, its lowest level since September 9, after the auction outcome was announced. Yields move inversely to bond prices. The auction received bids worth 5.84 times the amount sold, higher than a ratio of 4.01 times at the previous auction last month. “The strong auction outcome suggests that many investors expect a rebound in the bond market, as they turned to risk off after the mass p...
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