TOKYO: Yields on benchmark Japanese government bonds edged towards a 29-year high on Tuesday as investors awaited a policy decision from the central bank and signals for future rate hikes.
The benchmark 10-year JGB yield rose 0.5 basis point (bp) to 2.475% in early trading, closing in on the 2.49% level hit earlier this month that was the highest since June 1997.
Yields move inversely to bond prices.
At the conclusion of its two-day policy meeting on Tuesday, the Bank of Japan is widely expected to keep its key rate at 0.75%.
That puts the focus on the central bank’s quarterly outlook report and comments from Governor Kazuo Ueda for signs of how the Middle East conflict may impact the rate-hike path.
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