Japan superlong yields fall as China data spurs demand for safer securities

Japanese superlong bond yields fell on Wednesday, as heightening worries about a slowdown in China and its knock-on effect for the local economy buffed demand for safer securities. Buying was centred on the 20-year bond, pushing the yield down 2.5 basis points (bps) to 1.295%. The yield had risen to a one-week high of 1.325%, reacting to a near ten-month high in U.S. benchmark yield as traders bet the Federal Reserve would keep rates elevated for longer.