Bonds will probably show a gradual decline toward when the central bank will shift monetary policy. The possibility of a policy shift will stay in the minds of investors, preventing them from buying debt.

Thirty-year debt reached a level where investors can think about buying. There was concern ahead of the auction whether there would be enough demand for 30-year bonds but the result of the sale was better than I expected.

There was a concern ahead of the auction whether there is enough demand for the long-dated debt, such as 20-and 30-year bonds. Thirty-year debt has fallen to a level where investors can think about buying.

'The market is staying alert for Muto's speech. There is no consensus on when the bank will start raising rates, and people are wondering whether he will say anything concrete about the timing.

It is hard to keep buying bonds amid the central bank's determination it will raise interest rates.

It is very doubtful the 10-year yield reflects the outlook the central bank will soon change monetary policy. It is hard for investors to buy debt when the economy has strong growth momentum.

Investors don't feel safer buying bonds as they remain strongly concerned about a rate hike and higher yields. Surging Treasury yields will pressure Japanese yields to rise.

The central bank has not responded yet to the pressure but the Ministry of Finance will continue pressing the bank to do something. Speculation the bank will try to keep yields lower is spreading.

The economy hasn't lost strength and yields are not likely to fall more. It is hard to expect investors will buy bonds.