Japan’s 10-year government bond auction showed softer demand than last month, with the bid-to-cover ratio slipping to 3.34 from 3.92 in September.
- average yield 1.6350% (prior 1.6120%)
The bid-to-cover ratio measures investor appetite — how much demand there is relative to supply.
A lower ratio signals weaker demand or more caution from buyers, especially notable with yields near multi-year highs and speculation of a possible Bank of Japan rate hike in October.
In short: today’s result points to reduced investor appetite for 10-year JGBs compared with the prior sale, highlighting market nerves around BOJ policy tightening.
