Japan 30-year bond auction bid-to-cover ratio 2.92, lowest since December 2023
TOKYO: Demand at a sale of 30-year Japanese government bond yields saw the lowest demand since December 2023 on Thursday.
The bid-to-cover ratio, a measure of demand that gauges the number of bids against the amount of securities on offer, fell to 2.921 from 3.074 at the prior sale in May.
At the auction in December 2023, the ratio was 2.616. Japan's Ministry of Finance announced the result of the 604.8 billion yen ($4.23 billion) sale at 0335 GMT.
Japanese government bond yields retreat after strong 10-year note auction
Another gauge of demand called the tail - the difference between the lowest bid and the average bid - was 0.49 yen, compared with 0.30 yen at last month's auction.
A longer tail signals less demand.
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