May 22, 2024 06:17 GMT
MNI BRIEF: 10-Yr JGB Yield Rises to 1%; Highest Since May 2013
(MNI) Tokyo
(MNI) TOKYO
The yield on the 10-year Japanese government bond yield rose to 1.0% on Wednesday from 0.980% on Tuesday amid lingering concern over lower bond buying by the Bank of Japan and an earlier-than-expected rate hike.
The tepid results of the 40-year bond auction also drove the increase.
However, a further rise in JGB yields will be somewhat impeded by investors’ bargain-hunting.
MNI reported this week BOJ board members were watching the market and considering plans to further lower JGB buying operations. (See MNI POLICY: BOJ Board Weighs Pace, Scale Of JGB Reductions)
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