Japan's 10-year government bond yield has leapt to a three-week high at 0.8%
- 10 year JGB yield up 5 basis points from the previous session
- highest since November 16
Yesterday I posted on investors demanding higher yields from Japanese fixed interest as they face the risk of higher rates:
The bid to cover on this was the worst in 8 years if memory serves.
While everyone was screeching about Ueda's comments (which were very non-commital IMO) I haven't seen anyone mention this as a factor in the yen buying cascade. Weird.
USD/JPY update:
