The closing yield on the newly issued 10-year Japanese government bond rose to 3.085% in the government bond market on the 28th. Uncertainty over the Middle East spread concerns about higher oil prices and inflation, pushing long-term interest rates up 0.010% from the previous weekend.
In the government bond market on the 28th, the closing yield on the newly issued 10-year Japanese government bond, the benchmark for long-term interest rates (No. 383 bond, 2.7% coupon), was 3.085%, up 0.010% from the previous weekend.
Oil prices remained elevated amid uncertainty over the Middle East, and government bonds were sold as concerns grew that domestic inflation would accelerate, pushing yields higher.
The December contract, the central contract for 10-year JGB futures on the Osaka Exchange, fell ¥0.07 to ¥124.28.
Movements in the government bond market were reported as reflecting a rise in long-term interest rates driven by these factors.