Tokyo, July 2 (Jiji Press)–Japan’s Finance Ministry on Thursday set the coupon of the July issue of 10-year Japanese government bonds auctioned the same day at 2.7 pct, the highest level in 29 years and one month. The rate is up from 2.4 pct for the June issue, reflecting higher long-term interest rates on the back of inflation fears fueled by a weaker yen and uncertainty in the Middle East. The ministry revises the coupon rate every three months in principle. In May, the yield on the most recent issue of 10-year JGBs, regarded as Japan’s benchmark long-term interest rate, rose as high as 2.8 pct for the first time in 29 years. The yield has since fluctuated in the 2.6 pct to 2.7 pct range. END [Copyright The Jiji Press, Ltd.]
New 10-Year JGB Coupon Set at 29-Year High of 2.7 Pct
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