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