Japan's key long-term rate hits 15-year high

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Japan's key long-term rate hits 15-year high

Tokyo — The yield on the newest issue of 10-year Japanese government bonds, regarded as the country’s key long-term interest rate, rose to a 15-year high of 1.400 pct in interdealer trading in Tokyo on Tuesday. JGBs remained under downward pressure since Monday when stronger-than-expected economic growth data triggered speculation that the Bank of Japan

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On the 18th in the domestic bond market, the yield on newly issued 10-year government bonds, which is an indicator of long-term interest rates, rose to 1.430%, up 0.045% from the previous day (bond prices fell). This is the highest level in about 15 years since November 2009. Anticipation of further interest rate hikes by the Bank of Japan has led to a strong view that there is room for interest rates to rise, and bond selling has become dominan…