Japan’s 20-Year Yield Climbs Above 1% for First Time Since 2015
- Super-longs vulnerable as they are outside BOJ curve control
- Increase in global bond yields is adding pressure on JGBs
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Japan’s 20-year bond yields rose to the highest level since 2015 as global debt markets come under increasing pressure due to expectations of further monetary-policy tightening.
Yields on the securities extended gains even after the Bank of Japan announced unscheduled bond-purchase operation, climbing four basis points to 1.03%. The benchmark 10-year yield rose 0.5 basis point to 0.25%, the upper limit of the trading range the BOJ tolerates under its yield-curve-control policy.