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2026-06-04 09:51:34
[Japanese government bond yields held steady as rising interest rate expectations supported stronger short-term bonds] (1) Japanese government bond yields held steady overall on Thursday, with the benchmark 10-year yield rising slightly by 0.5 basis points to 2.645%, while the two-year yield, which is sensitive to policy rates, rose by 1 basis point to 1.410%, marking its second consecutive day of gains. (2) Bank of Japan Governor Kazuo Ueda stated that if the upside risks to inflation outweigh the downside risks to the economy, the pros and cons of raising interest rates must be discussed. This strengthened market expectations that the central bank will raise the benchmark interest rate from 0.75% to 1% at its June meeting, and that further rate hikes are possible. (3) Negative factors such as renewed global inflation concerns (US-Iran tensions pushing up oil prices and US Treasury yields) and concerns about fiscal expansion for ultra-long-term bonds have not yet dissipated.
