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Japan's key bond yield rises to 0.500% on stock market rally

September 2, 2014

The yield on the bellwether 10-year Japanese government bond finished higher Tuesday on selling after a rally in Tokyo stocks and a relatively poor result of the day's 10-year bond auction.

The yield on the No. 334, 0.6 percent issue, the main yardstick of long-term interest rates, ended interdealer trading at 0.500 percent, up 0.010 percentage point from Monday's close.

The price of the September futures contract for 10-year bonds was down 0.07 point at 146.16 on the Osaka Exchange.

On Tuesday, the Finance Ministry auctioned off new 10-year Japanese government bonds with a coupon of 0.5 percent, down 0.1 point from the last 10-year auction in August and matching the record low marked in June 2003.

The No. 335 issue of benchmark long-term bonds drew 7,882.4 billion yen in bids, of which the ministry accepted 2,199.9 billion yen.

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Source: Japan Economic Newswire

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