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Japan 10-Year Bond Sale Passes Smoothly After Yield Hits 3%

Bloomberg Markets •
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A sale of Japan's 10-year government debt passed smoothly after the yield on the key maturity hit the milestone of 3% and investors positioned for an interest rate hike. The bid-to-cover ratio at Tuesday's sale was 3.29, compared with 2.56 at the last auction and a 12-month average of 3.26.