The Japanese insurance company sold ultra-long term government bonds as the yield surged in May.

As yields climbed to multi-decade highs, Japanese insurance institutions sold domestic ultra-long-term government bonds in May, reversing the buying trend at the beginning of the fiscal year. Data from the Japan Securities Dealers Association shows that local insurance companies sold a net of 201.2 billion yen of Japanese government bonds with a maturity of more than 10 years in that month. In the previous fiscal year's first month of April, they had bought a net of 327.2 billion yen.