By IndiaHub 
The 30-year JGB yield fell 10 basis points (bps) to 2.935%, its lowest since May 14. The 40-year JGB yield lost 10.5 bps to 3.43%.
“Those bonds looked cheap for investors after their yields rose steeply, which boosted appetite for bonds,” said Naoya Hasegawa, chief bond strategist at Okasan Securities.
AdPorts and Special Economic Zone has secured Rs 5,000 crore through a 15-year Non-Convertible Debenture. The issue was fully subscribed by LIC at a competitive rate. This move enhances APSEZ’s debt maturity profile. The proceeds will fund a proposed buyback of US Dollar bonds. APSEZ aims to handle 1 billion tonnes of cargo by 2029-30.
The 20-year JGB yield shed 7 bps to 2.435%.
Long-dated debt has been sold off around the world in recent weeks, and in Japan, concerns have been exacerbated by a drop in bond buying by the central bank and political jockeying over stimulus.
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“Also, there is an expectation among market players that the Ministry of Finance might reduce the sale of those bonds,” Hasegawa said. But the decline in sales of those bonds could boost the issuance of shorter-dated bonds, which likely capped the decline in 10-year JGBs on Tuesday, Hasegawa added. The 10-year JGB yield fell 2 bps to 1.485%.
The five-year yield was flat at 1.01%.