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Time of India

Japan's 20-year bond yields rise for 8th day as fiscal concerns mount

Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Japanese government bonds remained under pressure on Wednesday, with the 20-year debt sliding for an eighth straight day following a lacklustre auction in the previous on Japan's super-long bonds have risen to historic levels in recent months as concerns mount about the country's debt levels and increases in deficit spending by the auction of 20-year JGBS on Tuesday received bids worth 3.09 times the amount sold, lower than the 3.15 times seen at the previous auction in 20-year JGB yield rose 1.5 basis points to 2.615%, getting closer to the 2.65% level touched last month that was the highest in 25 years. Yields move inversely to bond prices."The slight weakness in yesterday's 20-year bond auction is likely to have intensified upward pressure on yields," Mizuho Securities analysts said in a note."Looking ahead, with concerns about fiscal expansion remaining strong, the ultra-long-term zone as a whole is likely to face upward pressure."The benchmark 10-year JGB yield was flat at 1.590%. The five-year yield fell 0.5 basis point to 1.130%.