Japanese government bond yields climbed to fresh highs on Thursday as they tracked a rise in U.S. peers before being pressured further by weak demand at a five-year note auction.
The 10-year JGB yield (JP10YTN=JBTC) rose as much as 3 basis points (bps) to 1.48% for the first time since April 2, when U.S. President Donald Trump upended markets globally with his “Liberation Day” reciprocal tariffs.
Equivalent U.S. Treasury yields US10Y edged up to 4.55% in Asian hours, the highest since April 11, as investors grew increasingly concerned about disagreements on the Trump administration’s tax cut and budget legislation currently in Congress.
The five-year yield (JP5YTN=JBTC) rose by 3.5 bps to 1% for the second time this week, a level not seen since April 2.
The two-year JGB yield (JP2YTN=JBTC) added 1.5 bps to 0.72%, also for the second time this week. That level hadn’t been seen since April 3.
Superlong bond yields continued to soar…
