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Bids fly in for 20-year JGBs at auction

TOKYO -- Demand for 20-year Japanese government bonds proved robust at a Ministry of Finance auction Tuesday, with investors flocking back as yields recover to a roughly three-month high.

The bid-to-cover ratio, an indicator of demand, reached a roughly two-year high of 3.87. The tail, or the difference between the lowest and average bids, came to its narrowest since November at 0.03 yen, further demonstrating the bonds' recovering popularity.

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