Japanese bonds rally as tech rout drives demand for safer assets
TLT•Japanese government bonds rallied as investors sought safer assets during a deepening tech-stock rout. The 10-year yield fell as much as 9 basis points to 1.795%, its lowest since June 30.
1. Yields hit lows
The 10-year Japanese government bond yield fell as much as 9 basis points to 1.795%, its lowest since June 30. The 2-year yield dropped 6 basis points to 1.795%, its lowest since September 1, while the 5-year yield declined 8 basis points to 2.11%, its lowest since August 20.
2. Stocks slide
Japan’s Nikkei share average slumped 5.5%. Tech-heavyweights Advantest and SoftBank Group each fell around 12%.
