New Delhi, July 1 -- Ahead of the 30-year bond auction later this week, investor sentiment received a lift following a relatively steady sale of Japan's sale of 10-year government notes.

According to a Bloomberg report, the bid-to-cover ratio was at 3.51, higher than the 12-month average of 3.14, as expectations for rate hikes by the central bank receded and upward pressure on longer-maturity yields eased. As a result, the ten-year bonds rallied.

Japan's sovereign debt auctions have drawn heightened attention since late May, following a weak 20-year bond auction that pushed super-long yields to record highs. The surge in yields rippled through global debt markets, where investors are increasingly wary of growing government deficits. In ...