Japan 10-year JGB jumps to 2.93% on oil, BOJ signals
Business
Japanese government bond (JGB) yields took a noticeable leap on Thursday, with the 10-year yield hitting 2.93%, all thanks to oil prices shooting past $100 a barrel and some strong hints from the Bank of Japan about possible rate hikes.
The shorter-term two-year yield also edged up to 1.845%.
BOJ's Kazuyuki Masu suggests rate rises
BOJ board member Kazuyuki Masu suggested rates might need to rise quickly if inflation keeps climbing, which has investors watching closely for a possible announcement at next week's policy meeting.
Meanwhile, tensions in the Middle East pushed oil prices even higher, putting extra pressure on Japan's bond market and making everyone pay closer attention to what happens next.