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Japan's 10-year bond yields hit over 7-week high

reuters.com · 06/10/2022 02:28
Japan's 10-year bond yields hit over 7-week high

- Japan's 10-year government bonds rose to a more than a seven-week high on Friday, hitting the top of the Bank of Japan's policy band, amid caution ahead of the U.S. inflation data.

The 10-year JGB yield JP10YTN=JBTC rose 0.5 basis point to 0.250%, its highest since April 21.

The yields rose despite Japan's central bank's daily offers to buy unlimited amounts of 10-year bonds to keep the benchmark rate below the bank's target of 0.25%.

Overnight, U.S. Treasury yields rose after the European Central Bank (ECB) signalled a series of upcoming interest rate hikes and before highly anticipated U.S. inflation data due on Friday. US/

Benchmark 10-year JGB futures 2JGBv1 fell 0.02 point to 149.63, with a trading volume of 2,572 lots.

The 20-year JGB yield JP20YTN=JBTC rose 1.5 basis points to 0.790%.

The 30-year JGB yield JP30YTN=JBTC was flat at 1.080%. The 40-year JGB yield JP40YTN=JBTC rose 1 basis point to 1.170%.

The two-year JGBs did not trade and the yield JP2YTN=JBTC remained at -0.080%.

The five-year yield JP5YTN=JBTC rose 0.5 basis point to minus 0.005%.

(Reporting by Tokyo markets team; Editing by Rashmi Aich)

((813-4563-2711, junko.fujita@thomsonreuters.com, Reuters Messaging:junko.fujita.reuters.com@reuters.net;))