Mumbai, Sept. 17 -- Japanese yields turned lower today, easing after recent gains. The 10-year bond yield came off two-week high and closed around 1.59% mark. Action was driven by Japanese 20-year bond yields which fell after an auction of that tenor drew the strongest demand since 2020, pushing up prices as markets eyed key central banking meeting this week. The auction results showed the bid-to-cover ratio increased to 4, up from 3.09 at the previous sale in August and a 12-month average of 3.2. Yields on 20-year bond eased 3.5 basis points to 2.63%, sliding further from a multi-year high seen earlier this month. The Bank of Japan meets on Friday while the US Fed is due to announce its monetary policy outcome later today.

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