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The demand for Japan's two-year government bond auction has hit a new low since 2009.
Jin10 data, August 28 - The demand for Japan's 2-year government bond auction hit the lowest level since 2009, as investors expect the Central Bank of Japan to raise interest rates soon, leading to less aggressive buying. The bid-to-cover ratio was 2.84, the lowest level since September 2009, compared to 4.47 in the July auction. The difference between the average price of this auction and the minimum accepted price was 0.022 (yen), while the previous auction was 0.005 (yen).