waxcoingame| Japan's 10-year bond yield hits the much-watched 1% level

Since the Bank of Japan stepped up unprecedented stimulus measures in 2013,waxcoingame, Japan's 10-year bond yield hit the psychological barrier of 1% for the first time.

Japan's benchmark 10-year bond yield rose 2 basis points to its highest level since May 2013, before falling back to 0 at 3 pm Tokyo timewaxcoingame.99%。Japanese government bond yields recently hit a ten-year high, with inflation, including 20-year and 30-year bonds, above the central bank's 2% target for two years.

The 1% level is crucial to the market and was previously the reference point for the Bank of Japan's yield curve control policy. The Bank of Japan lifted control of the yield curve in March and withdrew its negative interest rate policy. Swap markets expect the probability of another interest rate hike at the Bank of Japan meeting in late July at about 66%, compared with 14% when the historic policy decision was made in March.

"If interest rates are expected to rise, then the overall Japanese government bond yield curve, especially the 10-year government bond yield, will rise further," said Shoki Omori, chief seat strategist at Mizuho Securities, and believes that 10-year national strategists could reach as high as 1.2% in the coming weeks.