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The Economic Times
The Economic Times
Business

Japan's 10-year bond yield hits 29-year high as market awaits Bessent's remarks

Scott Bessent Japan Monetary Policy Tokyo

Japan's 10-year government bond yield hit a 29-year high on Tuesday, despite a moderately firm auction, as the market awaited comments from U.S. Treasury Secretary Scott Bessent, who is visiting Tokyo.

The 10-year JGB yield rose ‌2.5 basis ⁠points to ⁠2.545%, its highest since June 1997. The five-year JGB yield rose 2 bps to a record high of 1.925%. The market weighed the possibility of Bessent urging Japan to take measures to prevent a JGB selloff or renew his calls for speedier rate hikes by the Bank of Japan as a ⁠way to ‌support the yen.

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