JGB yields rise after weak demand at 20-year bond auction

Japanese government bond (JGB) yields ticked up on Tuesday as investors reacted to weaker-than-expected demand at an auction for the superlong bond. The 20-year JGB yield rose as much as 6 basis points (bps) to 1.59%, its highest since Oct. 6, following an announcement of the auction results. The 10-year JGB yield was up 3 bps at 0.78%, while benchmark 10-year JGB futures fell 0.27 yen to 145.2 yen in the Asian afternoon.