(Bloomberg) -- The Japanese government’s auction of 10-year bonds met weak demand on Tuesday after investors baulked at the yields on offer in sales last month.Most Read from BloombergHuawei Teardown Shows Chip Breakthrough in Blow to US SanctionsMercedes Bets on Range Boost in Swipe at Tesla’s EV LeadDiamond Prices Are in Free Fall in One Key Corner of the MarketWhy China Is Avoiding Using ‘Bazooka’ to Spur EconomyThe Ministry of Finance sold 10-year notes on Tuesday with lower-than-expected cu
The Ministry of Finance sold 10-year notes on Tuesday with lower-than-expected cut-off price, indicating limited appetite from investors. Another auction is scheduled for Thursday, with the sale of 30-year securities.
“The auction confirms sluggish demand near 0.65% in yields,” said Ataru Okumura, senior Japan rates strategist at SMBC Nikko Securities Inc. “Yields are likely to rise in the medium term amid speculation of BOJ policy adjustments, keeping investors’ cautious stance.” Bond auctions in Japan last month underscored the weakness of demand for debt as investors waited for higher yields.
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