Japan 10-year JGB yield rises to 3.090% ahead of 40-year auction
The benchmark 10-year yield rose to 3.090%, near the 30-year high of 3.115% touched last week. The finance ministry plans to sell about 300 billion yen of 40-year JGBs later in the session, followed by 2-year notes on Wednesday.
By Rocky Swift TOKYO, Sept 29 (Reuters) — Japanese government bond (JGB) yields held near multi-decade highs on Tuesday as inflation pressures set the scene for an auction of the market's longest-dated tenor. 115% touched last week. Yields move inversely to bond prices. S.
Treasury yields climbed to multi-year highs, driven by inflation fears linked to surging oil prices and expectations of further Federal Reserve rate hikes. 91 billion) of 40-year JGBs later in the session, followed by an auction of 2-year notes on Wednesday. "Yields on newly issued 40-year bonds are near record highs, and with these high yields, some demand is expected from life and non-life insurance companies, as well as foreign investors," Takayuki Miyajima, senior economist at Sony Financial Group, said in a note.
"On the other hand, speculation about additional rate hikes by the Bank of Japan, expectations of a rising terminal rate, and concerns over fiscal expansion continue to weigh on the market," he said. 170%, respectively. 965%. 420%, just below the record high touched on Monday.
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