Japanese 10-year bond yields bounce from 3-week low after tepid auction

Benchmark 10-year Japanese government bond (JGB) yields sprang back from three-week lows on Wednesday, after an auction of the securities saw the weakest demand in nearly four years. "Investors were expecting a weak auction in the first place, but the result was even weaker than that," said Shoki Omori, chief Japan desk strategist at Mizuho Securities.