Japan's ultralong bond auction draws weakest demand in 10 months

TOKYO -- Investor appetite for long-term Japanese government bonds remained sluggish on Wednesday, with yields on the sovereign bonds rising amid persistently soft demand.

At an auction for 40-year JGBs held Wednesday, the bid-to-cover ratio, which measures demand, fell to 2.21, the lowest since July 2024. That compares to 2.92 at the previous auction, in March.