(Jan 8): Japan’s bond futures held onto gains after the lowest price at an auction of 30-year debt was slightly above forecasts, even though the bid-to-cover ratio showed lacklustre demand. The lowest price at the Ministry of Finance’s bond sale on Thursday was 99.15, compared with 99.10 in a Bloomberg survey. Thursday’s sale came amid persistent fiscal and rate-hike concerns that have pushed long-term yields higher in recent days. This leaves private buyers with more issuance to digest as the Bank of Japan (BOJ) pulls back from its debt purchases. Overnight index swaps have not yet fully priced in two additional BOJ rate hikes this year, implying scope for further repricing if inflation or the yen stays weak.

Source: The Edge Markets January 08, 2026 05:31 UTC