JGB yields climb on 30-year auction and BOJ hike bets
Japanese government bond yields rose as investors braced for a 30-year auction and a likely Bank of Japan rate hike. The 10-year yield reached 2.740 percent.
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Xurve View
Japan government bond yields rose Tuesday as the 10-year benchmark climbed 2.5 bps to 2.740%. Interest rate swaps data through Monday showed a 93% probability of a rate hike at the upcoming Bank of Japan policy meeting. The yield increase follows inflation concerns and expectations that the BOJ will address persistent price pressures.
The 10-year yield is on track for its highest close since May 22. The 20-year JGB yield advanced 3 bps to 3.665%, while the 30-year yield gained 3 bps to 3.965%.
