Mumbai, July 23 -- Japanese 10-year yield shot to the highest since 2008 at 1.6%, while a 40-year debt auction garnered the lowest demand since 2011 as markets eyed positive trade developments. Japanese stock market soared to a one-year peak on Wednesday, after Tokyo reached a trade deal with Washington, ending a months-long stalemate. Under the agreement, Japanese exports to the United States face a 15% levy, down from a threatened tariff of 25%. Specific duties on autos, which account for more than a quarter of Japan's U.S. exports, also fell to 15% from 25%. The Nikkei soared 3.5%.

Published by HT Digital Content Services with permission from Capital Market....