Overseas investors sold $6 billion more in long-term Japanese bonds than they purchased in the week ending Oct. 21.
© Reuters
TAKAHISA TAMURA, Nikkei staff writer |
TOKYO — Soaring yields are leading to a sell-off of Japanese government bonds, as foreign investors anticipate the Bank of Japan adjusting its monetary stance at next week’s policy board meeting.
Yields on 10-year JGBs touched 0.885% on Thursday, the highest level since July 2013 and near the 1% cap set by the BOJ in July, which Gov. Kazuo Ueda said at the time was a precautionary measure.
