Japan’s super-long government bonds rose on Thursday, supported by a Reuters report about the possible reduction of issuance of super-long-dated bonds next fiscal year.
The 30-year JGB yield
fell as low as 3.38% from a record high 3.45% marked in the previous session. The yield was last down 3 basis points to 3.395%. Yields move inversely to bond prices.
Japan will likely reduce new issuance of super-long government bonds next fiscal year, Reuters reported on Wednesday, easing worries of oversupply of those bonds.
Super-long bond yields hit record highs in recent sessions over concerns about the size of Prime Minister Sanae Takaichi’s debt-funded stimulus.
