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Japan’s government offered ¥0.6 trillion of 30-year bonds at a 4.200% coupon, setting terms for the long-dated sale. The auction puts a high nominal yield on the super-long sector as investors weigh duration risk and demand for extended-maturity JGBs. The deal is a key test of appetite for Japan’s longest paper and will be watched for take-up and any yield reaction along the curve.

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Japanese government