{"id":10217,"date":"2023-09-11T17:52:46","date_gmt":"2023-09-11T17:52:46","guid":{"rendered":"https:\/\/prosfunds.com\/news\/treasury-yields-rise-as-japans-10-year-rate-reaches-highest-in-roughly-a-decade\/"},"modified":"2023-09-11T17:52:47","modified_gmt":"2023-09-11T17:52:47","slug":"treasury-yields-rise-as-japans-10-year-rate-reaches-highest-in-roughly-a-decade","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=10217","title":{"rendered":"Treasury yields rise as Japan\u2019s 10-year rate reaches highest in roughly a decade"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002487771\" role=\"document\">\n<p>Treasury yields were slightly higher Monday morning after Bank of Japan Gov. Kazuo Ueda hinted at a possible end to negative interest-rate policy.<\/p>\n<h2>What\u2019s happening<\/h2>\n<ul class=\"articleList\">\n<li>\n      The yield on the 2-year Treasury<br \/>\n        BX:TMUBMUSD02Y<br \/>\n        rose less than 1 basis point to 4.991% from 4.982% on Friday. Yields move in the opposite direction to prices.<\/p>\n<\/li>\n<li>\n      The yield on the 10-year Treasury<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       rose 2.9 basis points to 4.286% from 4.257% on Friday.<\/p>\n<\/li>\n<li>\n      The yield on the 30-year Treasury<br \/>\n        BX:TMUBMUSD30Y<br \/>\n       climbed 4 basis points to 4.370% from 4.330% on Friday.<\/p>\n<\/li>\n<\/ul>\n<h2>What\u2019s driving markets<\/h2>\n<p>Government bond yields mostly advanced on Monday after the Bank of Japan suggested it may soon end its negative interest-rate stance. <\/p>\n<div class=\"paywall\">\n<p>Ten-year JGB yields<br \/>\n        BX:TMBMKJP-10Y<br \/>\n       rose above 0.7% to their highest since 2013-2014, nudging up equivalent U.S. and European yields, after Bank of Japan Governor Kazuo Ueda told the Yomiuri newspaper over the weekend that by the end of 2023, the central bank should have an idea about whether its decade of easy monetary policy can come to an end.<\/p>\n<p>\u201cOnce we\u2019re convinced Japan will see sustained rises in inflation accompanied by wage growth, there are various options we can take,\u201d Ueda said in an interview. \u201cIf we judge that Japan can achieve its inflation target even after ending negative rates, we\u2019ll do so.\u201d<\/p>\n<p>Investors are also contemplating the prospects for U.S. monetary policy ahead of August\u2019s consumer price index due Wednesday and a retail sales report for the same month on Thursday, which may influence the thinking of Federal Reserve policy makers ahead of their Sept. 19-20 meeting.<\/p>\n<p>Markets are pricing in a 93% probability that the Fed will leave interest rates unchanged at a range of 5.25%-5.50% next week, according to the CME FedWatch Tool. The chance of a 25-basis-point rate hike to a range of 5.5%-5.75% at the subsequent meeting in November is priced at 38.5%.<\/p>\n<h2>What analysts are saying<\/h2>\n<p>\u201cIf last week was a bit light on important data, you can\u2019t say the same about this week\u2019s high-impact extravaganza that will occur in a Fed blackout period as next week\u2019s FOMC lurks in the wings,\u201d said strategist Jim Reid and others at Deutsche Bank.<\/p>\n<p>\u201cU.S. CPI (Wednesday) will be the obvious standout but U.S. PPI and retail sales (Thursday) are nearly as important given how some of the PPI subcomponents feed into the Fed\u2019s preferred core PCE, and for retail sales, we\u2019ll see how much momentum has been lost after a phenomenally strong July print,\u201d Reid added.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/treasury-yields-rise-as-inflation-data-looms-as-japanese-yields-reach-highest-since-2014-6b62ec42?mod=economy-politics\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury yields were slightly higher Monday morning after Bank of Japan Gov. Kazuo Ueda hinted at a possible end to negative interest-rate policy. What\u2019s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y rose less than 1 basis point to 4.991% from 4.982% on Friday. Yields move in the opposite direction to prices. The yield on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[38],"tags":[],"class_list":{"0":"post-10217","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Treasury yields rise as Japan\u2019s 10-year rate reaches highest in roughly a decade | Prosfunds<\/title>\n<meta name=\"description\" content=\"Treasury yields were slightly higher Monday morning after Bank of Japan Gov. 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