Key 10-Year JGB Yield Hits 20-Month High of 0.150 Pct
Tokyo, Oct. 4 (Jiji Press)--The key 10-year Japanese government bond yield rose to the highest level in about 20 months in Tokyo interdealer bond trading on Thursday morning.
Selling pressure on JGBs increased on the back of higher interest rates abroad, market sources said.
The yield on the latest 352nd issue of 10-year JGBs, regarded as the benchmark long-term interest rate in Japan, went up 0.015 percentage point from the previous day to 0.150 pct, the highest level since Feb. 3, 2017.
In July this year, the Bank of Japan modified its policy, tolerating the JGB yield's rise to up to around 0.2 pct. As the central bank scaled back its JGB purchases later, speculation of higher interest rates grew in the bond market.
The yield "may come close to 0.2 pct if interest rates in the United States and elsewhere climb further," one market source said.
[Copyright The Jiji Press, Ltd.]