Tokyo, Sept. 24 (Jiji Press)–The benchmark 10-year Japanese government bond yield, a key long-term interest rate, climbed to a fresh 30-year high of 3.055 pct on Thursday. According to Japan Bond Trading Co., the yield on the latest 383rd issue of 10-year JGBs hit the highest level for a benchmark yield since September 1996. The rate climbed after the U.S. long-term Treasury yield rose Wednesday, as a senior Federal Reserve official signaled openness to further rate hikes, prompting increased bond selling in Tokyo as well. “(JGBs) were sold on concerns about the expansionary fiscal policy of the administration of (Japanese Prime Minister Sanae) Takaichi, in addition to renewed expectations that the Bank of Japan would be forced to increase its policy rate sharply following a delay in raising rates,” an official at an asset management firm said. END [Copyright The Jiji Press, Ltd.]
