Japan’s 10-year Yield Hits over 9-year High, Crosses BOJ Intervention Level

Reuters

12:21 JST, August 22, 2023

TOKYO (Reuters) — Japan’s 10-year government bond yield hit a more than nine-year high on Tuesday, crossing a level that had prompted the central bank to intervene in the market earlier this month.

The 10-year JGB yield JP10YTN=JBTC rose 1 basis point (bp) to 0.660%, its highest since January 2014, tracking U.S. yields higher.

The increasing yield raised speculation that the Bank of Japan (BOJ) would conduct emergency buying, which could send the yen lower.