Medium-term bond yields continue to rise, with the yield on newly issued 5-year bonds reaching a record high of 2.43% on 28 September. Markets are unsettled by the loss of clarity over the terminal point for Bank of Japan rate hikes.
Medium-term bond yields continue to rise. This is against a backdrop of growing views that the terminal point for Bank of Japan rate hikes has become unclear.
The yield on newly issued 5-year bonds reached a record high of 2.43% on 28 September. Investors appear to be holding back on purchases as they consider the possibility that the terminal point will be higher than previously expected.
Matsumoto Tōru (松本 通), general manager of the Market Sales Department at Yokohama Bank, said, “Interest-rate levels are attractive, but it is difficult to say that now is the time to buy.”