Tokyo, April 7 (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, rose to 2.430 pct in Tokyo trading Tuesday, the highest level since February 1999. JGBs were sold on expectations for an early interest rate hike by the Bank of Japan amid inflation concerns stemming from high crude oil futures. Oil prices remain high due to rising tensions in the Middle East, as a deadline set by U.S. President Donald Trump for a ceasefire agreement with Iran approached. Trump has called on Iran to end its de facto blockade of the Strait of Hormuz, a key oil transport waterway, and threatened to attack Iranian power plants if a ceasefire deal cannot be struck. Tehran has rejected a temporary ceasefire proposal, however. END [Copyright The Jiji Press, Ltd.]
Key 10-Year JGB Yield Hits 27-Year High of 2.430 Pct
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