Investing.com - Japanese government bond (JGB) yields experienced an uptick, with the benchmark 10-year securities reaching their highest level in over a week. This came as investors decided to sell bonds following a recent surge. The 10-year JGB yield climbed by 2.5 basis points to reach 0.405%, marking its peak since May 11, having reached a low point just over a month ago.
The rise in JGB yields is attributed to a recovery from significant drops earlier on and also due to increasing US Treasury rates at the end of last week, which were prompted by data suggesting potential interest rate hikes in June.
Last week saw increased bond purchases as expectations for changes in Bank of Japan's (BOJ) policies diminished when Governor Kazuo Ueda stated that the central bank would only abandon its yield curve control policy once inflation appeared set to consistently achieve its target of 2%.
US Treasury yields rose on Friday after it was revealed that consumers' long-term inflation expectations had risen this May, reaching levels not seen since 2011; however, consumer sentiment simultaneously reached a six-month low.