🇯🇵 HUGE: Japan’s 20-year bond auction draws RECORD demand as higher yields lure investors back. The October 20 sale attracted bids worth 5.84 TIMES the amount offered, crushing the previous auction’s 4.01 ratio and the 12-month average of 3.73, per Bloomberg. With an average auction yield of 3.723%, investors are getting paid substantially more to hold Japanese government debt. Following the results, the 20-year market yield fell as much as 6 basis points to 3.710%. “Japanese government bonds have become an investable asset again,” said State Street’s Masahiko Loo.