As reported by BlockBeats, on December 1, Japan's 2-year Treasury yield rose to 1%, the highest level since 2008, indicating market expectations of an upcoming Bank of Japan (BOJ) rate hike. The 5-year and 10-year yields climbed to 1.35% and 1.845%, respectively, while the yen appreciated 0.4% against the dollar to 155.49. BOJ Governor Kazuo Ueda stated the central bank will weigh the pros and cons of a rate hike and decide at the appropriate time. Market expectations for a BOJ rate hike at its December 19 meeting stand at 76%, rising to over 90% for the January meeting. Meanwhile, Japan's Ministry of Finance plans to issue more short-term bonds to support Prime Minister Sanae Takaichi's economic stimulus plan, which is expected to put downward pressure on short-term bond yields.
Japan's 2-Year Treasury Yield Hits 1%, Highest Since 2008
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