Japanese Bonds Fall for First Time in 5 Weeks on Recovery Signs
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Japanese bonds fell for the first time in five weeks as signs the global recovery is intact damped demand for the relative safety of government debt.
Ten-year yields rose as high as 1.165 percent during the week, the most since June 23, as a sliding approval rating for Prime Minister Naoto Kan fueled concern he will back away from plans to cut the debt supply. Improved corporate earnings may prompt Japanese investors to switch to stocks from government bonds, said Riichiro Fukahori, senior vice president of fixed-income investment at Mizuho Corporate Bank Ltd.