Japanese 30-Year Bond Yield Hit New High
By
Emese Bartha, Dow Jones Newswires
Japanese government bonds remain under pressure amid weak demand after Tuesday's poorly received 20-year bond auction pushed 30-year yield to a record high.
The 30-year yield rose to 3.20% during Asian trading, having since eased back to 3.15%, according to LSEG. Weakness in Japanese bonds could weigh on other developed market long-end bonds.
"The long end cannot defy gravity," said Commerzbank Research's Christoph Rieger in a note. "The initial U.S. downgrade dip was still bought with tepid conviction, as it seemed to be just a reminder of the well-known fiscal challenges the U.S. is facing," the head of rates and credit research said.
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