February 5, 2015 / 5:18 AM / 3 years ago

JGB 30-year yield plunges on auction relief

TOKYO, Feb 5 (Reuters) - The yield on Japan’s 30-year government debt plunged on Thursday after investor demand for super-longs at an auction of new 30-year bonds gave the market some relief.

The Japanese government bond market, which has enjoyed a bull run for much of the year, was thrown into turbulence earlier this week when a 10-year note sale drew surprisingly weak demand.

Thursday’s 30-year auction results, though not spectacular, still showed investor demand remained sufficient for super-long debt.

The 30-year yield fell 7 basis points to 1.355 percent after rising to a 2-1/2 month high of 1.465 percent earlier in the session. (Reporting by Tokyo markets team; Editing by Simon Cameron-Moore)

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