Yields on Japan’s benchmark government bonds rose to their highest level since 2007 as investors fretted over Prime Minister Sanae Takaichi’s spending plans and braced themselves for an interest rate increase.
The 10-year yield on Thursday climbed 0.02 percentage points to 1.91 per cent in early trading, approaching levels at which analysts said domestic banks could begin fundamentally adjusting their bond-buying strategies. Yields move inversely to prices.
The rise takes 10-year yields to levels last seen before the collapse of Lehman Brothers sparked a global financial crisis and ushered in an era of lower interest rates worldwide.
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