Japan’s Bonds Have Biggest 2-Day Drop in 5 Months as Stocks Rise
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Japan’s 10-year government bonds had their biggest two-day decline since August after the yen traded near its weakest level in 2 1/2 years and stocks advanced, damping demand for the relative safety of the nation’s debt.
Benchmark yields climbed to the highest level in almost three weeks as rates on Treasuries increased during Asia trading after reports showed the U.S. added jobs and China’s services industries expanded. Japan’s Ministry of Finance will auction 2.4 trillion yen ($26 billion) in 10-year bonds tomorrow, up from 2.3 trillion yen last month.