Japan’s 10-Year Yield Rises to Upper End of BOJ’s Target Range
- Benchmark JGB yield hit the BOJ’s upper limit of 0.25%
- Japan’s bond market last came under pressure in June
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Japan’s benchmark government bond yield rose to the upper end of the trading range tolerated by its central bank, as debt markets worldwide came under pressure on expectations for continued monetary tightening.
The 10-year yield rose to 0.25% for the first time since June 17, when hedge funds were launching attacks on the bond, betting the Bank of Japan would have to tweak its easy policy amid a global upward trend in yields. There are signs of similar wagers creeping back, though not to the same degree seen earlier this summer.