TOKYO, June 3 (Reuters) - Japanese government bond (JGB)
yields rose across the curve on Wednesday, supported by firmer
Bank of Japan rate-hike expectations and a global backdrop of
elevated yields.
Here are a few details:
* The benchmark 10-year JGB yield climbed 2
basis points (bps) to 2.585%. Yields move inversely to bond
prices.
* U.S. Treasury and euro zone yields have remained
elevated in recent weeks on persistent inflation concerns and
shifting expectations for major central banks.
* Markets are awaiting a speech by BOJ
Governor Kazuo Ueda later on Wednesday for further policy clues
after recent hawkish signals and inflationary risks tied to the
Iran war-driven energy shock.
* "Attention is focused on whether he will offer any
hints regarding the June policy meeting or the future path of
interest rate hikes. Although selling pressure is likely to
dominate initially as a reaction to yesterday's sharp rebound,
underlying support from supply and demand remains, and the
market is expected to trade nervously," Sony Financial Group
senior economist Takayuki Miyajima said in a note.
* Finance Minister Satsuki Katayama said on Wednesday
that she is largely in alignment with Ueda on various aspects.
* The yield on the 40-year JGB, Japan's
longest tenor, added 1 bp to 3.755%, while the 30-year yield
was unchanged at 3.845%.
* The 20-year yield advanced 1 bp to
3.51%.
* The two-year yield, the one most
sensitive to BOJ's policy rates, advanced 2.5 bps to 1.400%,
while the five-year yield gained 3 bps to 1.885%.