Japan's 10-Year Bond Sale Draws 3.9 Bid-to-Cover as Yields Hit 2.535%

3 articles · Updated · Bloomberg · May 12

Japan’s 10-year government bond auction drew its strongest demand since September, with a 3.9 bid-to-cover ratio versus 2.57 at the previous sale.
Higher yields underpinned buying, helping demand beat the 12-month average bid-to-cover ratio of 3.23.
The benchmark 10-year yield trimmed some of its earlier rise after the results but still traded at 2.535%, its highest level since 1997.

With yields at a 30-year high, can Japan's heavily indebted economy actually afford its own success?

As Japan's investors pull back, could their retreat from U.S. debt spark a global financial crisis?

The lucrative 'yen carry trade' is ending. What new strategy will replace it in global finance?