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Investing.com -- The yields on Japan’s longest-dated government bonds surged to record levels on Tuesday. This happened after an underwhelming auction led to a sell-off in the bond market, which was triggered by growing concerns over the country’s fiscal health.
The yield on the 30-year Japanese Government Bond (JGB) rose by 17 basis points, reaching 3.14%. Meanwhile, the yield on the 40-year JGB increased by 15 basis points, hitting 3.6%. A basis point is one hundredth of a percentage point.
These increases in yields reflect a decrease in demand for these bonds. When bond prices fall, their yields rise. The poor performance at the bond auction suggests that investors are becoming more cautious about Japan’s fiscal situation.
This event marks a significant shift in Japan’s bond market, as the yields on the 30-year and 40-year JGBs have reached all-time highs. The rise in yields indicates a growing concern among investors about the fiscal health of Japan.
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