Japan Flags Big Cut to Long-End Bond Issuance Before Risky Sale
Japan's larger-than-expected cut to super-long bond issuance has potential to ease some upward pressure on yields just before an auction this week that risks reigniting turmoil in the debt market.
The move by the finance ministry may also prove fortuitous in light of the US attack on Iranian nuclear sites over the weekend. The escalating military action adds to the dangers for super-long yields via higher oil prices and inflation, even if the knee-jerk reaction Monday pulls bonds the other way as investors seek havens.
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