10-Year JGB Yield Rises to Roughly 30-Year High

(Adnkronos) - Tokyo, July 9 (Jiji Press)--The yield on the most recent issue of 10-year Japanese government bonds, regarded as the country's benchmark long-term interest rate, briefly rose to a roughly 30-year high of 2.885 pct in Tokyo interdealer trading Thursday. According to Japan Bond Trading Co., the 10-year JGB yield hit its highest level since November 1996. Japanese long-term interest rates tracked their U.S. peers higher, as U.S. yields climbed Wednesday on inflation concerns after crude oil prices soared amid fears that U.S.-Iran tensions may escalate. Worries about fiscal expansion under the administration of Japanese Prime Minister Sanae Takaichi and anticipation that the Bank of Japan will hold off on raising its policy interest rate also added to upward pressure on the key JGB yield. END [Copyright The Jiji Press, Ltd.]