Japan’s 10-year government bond yield slipped to around 3.08% on Wednesday, retreating from 30-year highs after strong demand at recent debt auctions eased market concerns. The 40-year bond sale drew its strongest demand since 2020, while demand at the 2-year auction exceeded its 12-month average as elevated yields attracted investors. The move followed an earlier report that the benchmark yield had risen 0.010% to 3.095% during morning trading. The pullback came despite expectations that the Bank of Japan will continue raising interest rates to contain persistent inflation. A former BOJ official said the central bank could raise its benchmark rate for a second consecutive meeting in October. Falling oil prices, amid signs of improving energy flows from the Middle East, also reduced inflation risks and helped ease Japanese yields.