Tokyo, May 12 (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 as high as 2.545 pct in Tokyo interdealer trading Tuesday morning. The reading was the highest since February 1999, according to Japan Bond Trading Co. U.S. President Donald Trump, taking to social media Sunday, blasted Iran’s response to a U.S. peace proposal over the two nations’ ongoing conflict as “totally unacceptable.” Waning investor hopes for the normalization of navigation in the Strait of Hormuz, a major oil chokepoint currently under a de facto blockade due to the Middle East tensions, led to a rise in U.S. crude oil futures Monday. This fueled inflation concerns and drove U.S. long-term interest rates higher, instigating a wave of selling of JGBs in Tokyo on Tuesday. END [Copyright The Jiji Press, Ltd.]
Key JGB Yield Briefly Hits 27-Year High of 2.545 Pct
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