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Japanese Government Bonds Continue Decline After Bank of Japan's Rate Hike

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Japanese government bonds continued to fall on Monday after the Bank of Japan raised its benchmark rate to a 30-year high. The 10-year bond yield climbed 7.5 basis points to 2.095%, the highest since February 1999. The two-year yield rose 3 basis points to 1.12%, a 1997 high. Traders were disappointed by the lack of guidance on future tightening. The yen gained 0.3% against the dollar to 157.25 after officials warned on currency weakness. Risk-on assets saw renewed attention amid moves to Countering the Financing of Terrorism.
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