Tokyo, Sept. 15 (Jiji Press)–The benchmark 10-year Japanese government bond yield, a key long-term interest rate, rose to a new 30-year high of 3.03 pct on Tuesday after U.S. long-term rates rose on surging crude oil prices. According to Japan Bond Trading Co., the yield on the newest 383rd issue of 10-year JGBs hit the highest level for a benchmark yield since September 1996. Crude oil prices soared following a halt to the operations of a key crude oil pipeline in Saudi Arabia that came under attack. Reflecting concern about accelerating inflation, the U.S. 10-year Treasury bond yield rose above 5 pct, which triggered selling also in the Japanese bond market. END [Copyright The Jiji Press, Ltd.]
