By BRIGID RILEY
TOKYO- Japanese government bond (JGB) yields rose on Monday, with the benchmark 10-year yield hitting a more-than-decade high, in line with a rise in US Treasury yields last week, while investors continued to evaluate the interest rate outlook in Japan.
The 10-year JGB yield earlier climbed to its highest since April 2011 at 1.32 percent. It was last up 1.5 basis points (bps) at 1.315 percent, while 10-year JGB futures were down 0.03 points at 140.02 yen.
US Treasury yields rose on Friday as strong jobs data revisions and a decline in the unemployment rate were seen as reflecting a solid labor market.
On Friday, Japanese Prime Minister Shigeru Ishiba also had his first White House summit, which passed without incident.
While upward pressure on JGB yields remained, moves were range-bound as investors awaited further guidance on the pace and extent of additional rate hikes by the Bank of Japan (BOJ).
Markets currently have about 34 bps of rate increases factored in for the rest of this year following a hawkish lean in recent BOJ communications and supportive economic data last week. —Reuters
