Japanese 10-year government bond yields decreased after better-than-expected auction results for bonds of the same term.

The Bank of Japan’s bond-buying operation supported the outcome, and the 10-year JGB yield dipped 1.5 bps to 0.755%.

Government bond auctions received 3.93 times the amount offered, down from 4.02 times last month.

Investors were wary of buying assets due to potential yield rises due to inflation exceeding the BOJ’s 2% target.