Tokyo, Oct. 10 (Jiji Press)–The yield on the benchmark 10-year Japanese government bond issue, Japan’s key long-term interest rate, briefly rose to a 17-year high of 1.700 pct in interdealer trading on Friday. The yield on the 380th JGB issue hit the level, unseen since July 2008, early afternoon after going sideways at 1.695 pct in the morning. Japanese interest rates have shown clearer signs of increase amid growing concerns over deterioration in the country’s fiscal health since Sanae Takaichi, who advocates expansionist fiscal policy, took the helm of the ruling Liberal Democratic Party last weekend. “Despite the potential prime minister’s preference to low interest rates, JGB investors are looking at the possibility of the Bank of Japan raising its policy rates in December and January,” a Japanese securities firm official said. END [Copyright The Jiji Press, Ltd.]
10-Year JGB Yield Hits 17-Year High
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