Japan’s 10-year government bond yield rose above 1.65% on Monday, hitting a fresh 17-year high as investors digested the latest central bank decision. On Friday, the Bank of Japan kept its policy rate unchanged at 0.5% for the fifth consecutive meeting, as expected. The central bank noted that the economy is recovering moderately but highlighted pockets of weakness and warned of risks from global trade developments. It also unanimously agreed to begin selling its ETF and J-REIT holdings. Looking ahead, key data releases this week include Japan’s latest PMI and Tokyo inflation figures, along with minutes from the BOJ’s July meeting. Japanese yields also followed US Treasury yields higher as investors anticipated fresh Federal Reserve commentary and a crucial US inflation report later this week.
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