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Demand for Japan's 20-year government bonds hit a record high, driven by rising yields.
Japan's 20-year government bond auction on Tuesday saw record demand, with a bid-to-cover ratio of 5.84, significantly higher than the previous 4.01 and the 12-month average of 3.73, according to Bloomberg Markets. The tail (the difference between the average and lowest accepted prices) was 0.07, lower than last month's 0.15, indicating strong investor interest.
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