Demand for Japan's two-year government bond auction fell short of the average seen over the past year.
The bid-to-cover ratio dropped to 2.97 times, down from 3.63 times at the prior sale, and trailing the 3.74 times average recorded across the last 12 months.
The tail—the gap between the average and lowest accepted prices—widened to 0.034, compared with 0.007 previously, marking the largest such spread since 2016.
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