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Negative 10-year yields spur demand at 30-year JGB sale

TOKYO -- The first auction of 30-year Japanese government bonds since the central bank decided to adopt negative interest rates went off without a hitch Tuesday as negative 10-year yields made longer-term debt look less pricey by comparison.

     The lowest accepted price of 107.15 yen (93 cents) worked out to a yield of 1.083%, somewhat higher than anticipated. After the auction, yields on 30-year JGBs slid 3 basis points from the previous day to 1.04% as prices rose.

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