Japan’s Benchmark Bond Yield Hits Decade-High on Rate-Hike Bets
- Yields on longer-dated debt have also been moving higher
- Swaps pricing for rate hike by July meeting has increased
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Japan’s benchmark government bond yield climbed to the highest since 2013 on bets the central bank will further raise interest rates to support the struggling yen.
The yield on 10-year government debt rose 2.5 basis points to 0.975% on Monday, a level last seen when the then newly appointed Bank of Japan Governor Haruhiko Kuroda was starting his radical monetary easing.