TOKYO: Benchmark 10-year Japanese government bond yields fell on Wednesday, as investors bought back the debt on the dip after yields climbed to their highest in six years.

The 10-year JGB yield fell one basis point to 0.170%.

The 10-year yields climbed on Monday to their highest since the start of the Bank of Japan's negative interest rate policy in 2016, as investors pondered whether the central bank will be swayed by policy tightening in the United States and elsewhere.

The 10-year JGB futures rose 0.06 of a point to 150.63, with a trading volume of 16,814 lots.

The 20-year JGB yield was flat at 0.575%.

The 30-year JGB yield rose 0.5 basis point to 0.795% ahead of an auction for the debt with the same maturity on Thursday.

JGB yields flat ahead of US Fed's policy update

The 40-year JGB yield rose 0.5 basis point to 0.835%, keeping the high scaled in the previous session.

Yields on the 30- and 40-year JGBs touched their highest since December 2018 in the previous session.

The two-year JGB yield was flat at minus 0.050%. The five-year yield fell 0.5 basis point to minus 0.010%.