Global Market: Japanese bond yields retreat after strong demand at 30-year debt auction

Japanese 10-year government bond yield fell 2.5 basis points to 2.805% after strong demand at a 30-year debt auction worth around 600 billion yen (about $3.70 billion). The auction's bid-to-cover ratio rose to 4.55, the strongest since May 2019, offering relief after a sharp rise in long-dated yields this month. Despite the rally, analysts cautioned that concerns over persistent inflation, yen weakness, and Japan's fiscal outlook remain unresolved.