Japanese bond yields climb as haven demand fades ahead of BOJ meeting
Reuters reports the 10-year JGB yield rose to 2.805% as a share rebound cut haven demand and investors positioned for this week's BOJ decision.
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what happened
According to Reuters, the yield on the benchmark 10-year Japanese government bond (JGB) rose 2 basis points on Wednesday to 2.805%, extending a rally in yields for a second session. The move came as a rebound in AI-related shares reduced demand for haven assets. Investors were also positioning ahead of the Bank of Japan's policy meeting on October 29-30. The central bank is widely expected to hold rates after lifting them in September to 1.25%, a 31-year high.
Domestic inflation keeps the BOJ on a hawkish footing. The bank's trend inflation index rose to 3.2% in September from 2.6% in August. Markets price in a quarter-point hike to 1.5% in December. The 20-year yield advanced to 3.635% and the 30-year yield to 3.875%.
why it matters
Uncertainty over the next fiscal year's budget and the JGB issuance plan, according to Keisuke Tsuruta of Mitsubishi UFJ Morgan Stanley Securities, is likely to keep weighing on the government bond market. A global selloff has already pushed long-end yields to multi-decade highs.
market impact
Japanese bonds: higher yields pressure JGB prices ahead of the BOJ decision
- JGB pressure down — rising yields mean lower bond prices
tags
instruments
sources
- Japan bond yields rise as haven demand recedes, BOJ meeting looms — Reuters, 28 October 2026 at 01:54 UTC
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