(Update) Key 10-Year JGB Yield Hits Over-16-Year High of 1.6 Pct
Tokyo, July 23 (Jiji Press)--The key yield on 10-year Japanese government bonds, regarded as the country's benchmark long-term interest rate, reached 1.6 pct in Tokyo trading on Wednesday, hitting the highest level since October 2008.
The yield on the newest 10-year issue stood at 1.590 pct in late trading, up from 1.500 pct a day earlier.
Selling spread in the JGB market after U.S. President Donald Trump announced on social media that his country and Japan have concluded an agreement to impose a 15 pct U.S. reciprocal tariff on imports from Japan.
The safe-haven appeal of government bonds decreased as investors appeared to be relieved that the tariff rate was lowered from the 25 pct Trump had notified Japan of earlier this month. Bond yields move inversely to prices.
"Selling picked up on speculation that the Bank of Japan will find it easier to raise interest rates, now that uncertainties over the tariff negotiations are over," said an economist at an asset management firm.
(2025/07/23-17:48)
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