The yield on Japanese 30-year government bonds hit a record high, driven by persistently high inflation and growing market expectations of a rate hike by the Bank of Japan later this month. It is currently up 1.5 basis points to 3.405%.
Bank of Japan Governor Kazuo Ueda said on Monday that the central bank will thoroughly discuss the possibility of a rate hike at its upcoming meeting, which boosted market expectations for a near-term rate increase. The 10-year government bond yield was unchanged at 1.875%.