Treasury yields rise as Japan's 10-year rate reaches highest in roughly a decade

Sep 11, 2023 | News On Japan

TOKYO - Treasury yields were slightly higher Monday morning after Bank of Japan Gov. Kazuo Ueda hinted at a possible end to negative interest-rate policy.

Government bond yields mostly advanced on Monday after the Bank of Japan suggested it may soon end its negative interest-rate stance.

Ten-year JGB yields BX:TMBMKJP-10Y rose above 0.7% to their highest since 2013-2014, nudging up equivalent U.S. and European yields, after Bank of Japan Governor Kazuo Ueda told the Yomiuri newspaper over the weekend that by the end of 2023, the central bank should have an idea about whether its decade of easy monetary policy can come to an end.

"Once we're convinced Japan will see sustained rises in inflation accompanied by wage growth, there are various options we can take," Ueda said in an interview. "If we judge that Japan can achieve its inflation target even after ending negative rates, we'll do so."

Investors are also contemplating the prospects for U.S. monetary policy ahead of August's consumer price index due Wednesday and a retail sales report for the same month on Thursday, which may influence the thinking of Federal Reserve policy makers ahead of their Sept. 19-20 meeting. ...continue reading

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