Japanese 10-year bond yields surge to near 16-year highs on rate-hike expectations, global sell-off

Japanese government bond yields surged on Thursday, with the 10-year JGB yield reaching its highest level since June 2009, as global bond sell-off pressure was cited by experts. The 10-year JGB yield rose by nearly 8 basis points to surpass 1.5%, while the 30-year bond yield increased by 13 basis points to breach the 2.5% mark for the first time since 2008. Masahiko Loo, a senior fixed income strategist at State Street Global Advisors, noted that the JGB sell-off was aligned with the upward trend in global yields, with the U.S. 10-year treasury yield climbing by 5 basis points to 4.317%.

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