Japan's 20-Year Bond Auction Draws Record Demand as Higher Yields Lure Investors Back

HUGE: Japan's 20-year bond auction drew record demand as higher yields attracted investors back.
According to Bloomberg, the October 20 sale attracted bids worth 5.84 times the amount offered, well above the previous auction's 4.01 ratio and the 12-month average of 3.73.
The average auction yield was 3.723%. Following the results, the 20-year market yield fell as much as 6 basis points to 3.710%.
"Japanese government bonds have become an investable asset again," said State Street's Masahiko Loo.