0255 GMT - Sharply higher JGB 30-year yields "fire a warning shot for belly tenors," DBS Group Research's Eugene Leow says in commentary. "Stresses in ultra-long term JGBs provide another warning on what could happen if market participants fixate on fiscal issues," the senior rates strategist says. "It is worth reminding ourselves that it is Japan that has the worst government debt profile amongst the G-10," he says. A marked drop in bidding interest for Japan's 30-year auction held last week has driven a sharp selloff in ultra-long term JGBs, Leow notes. "However, we think that the belly tenors are becoming vulnerable," the strategist adds. 30-year yield is last at 3.110% after touching record intraday high of 3.14% on Tuesday, Quick data show. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

May 20, 2025 22:55 ET (02:55 GMT)

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