Japan's 20-year bonds take first super-long auction since election in stride

Japan's 20-year bond yield remained stable following a moderately firm auction, showing little reaction to a previous tax-cut pledge that had sent yields soaring. Foreign investors are reportedly leading demand, attracted by higher yields on hedged bonds. Market concerns over political instability have eased after a significant election win, with reduced issuance also supporting investor appetite for super-long JGBs.