Japan’s two-year note yield rose to its highest level since 2008 and the yen gained against the dollar on signs an interest-rate hike by the Bank of Japan is getting closer.
The two-year rate, which is sensitive to monetary policy expectations, rose one basis point to 1%. Yields on both five-year and benchmark 10-year bonds climbed about four basis points to 1.35% and 1.845% respectively. Japan’s currency strengthened as much as 0.4% to 155.49 against the dollar.
AloJapan.com