UBS Asset Management Says Japan Should Stop Issuing Long Bonds to Halt Selloff
The surge in the 40-year JGB yield to 3.675% last month, the highest since the tenor debuted in 2007, is the latest reason for Japan's Ministry of Finance to end sales of longer-dated bonds, whose demand is dwindling due to demographic shifts in the country's aging society, says Kevin Zhao, head of global sovereign and currency at UBS Asset Management.
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