Japan is planning to cut the issuance of super-long bonds this year by more than earlier reported, after record highs in super-long yields in recent months stoked market concerns.

In the revised issuance plan, the government will reduce 20-year Japanese government bond (JGB) sales by 1.8 trillion yen ($12.38 billion) to 10.2 trillion yen for the year ending in March, while 30-year JGB sales will be cut by 900 billion yen, and 40-year JGB sales by 500 billion yen, according to the document.

The Finance Ministry proposed reducing the issuance of 20-, 30- and 40-year bonds by a total of ¥3.2 trillion ($22 billion) through the end of March 2026.