TOKYO, Aug 10 (Reuters) - Japanese government bond (JGB)
yields rose on Monday as higher oil prices fuelled inflation
concerns, while investors weighed the likelihood of a Bank of
Japan interest-rate hike in September.
Here are a few details:
* The benchmark 10-year JGB yield rose 1.5
basis points (bps) to 2.810%. Yields move inversely to bond
prices.
* The two-year yield, most sensitive to BOJ's
policy, was up 1 bp at 1.615%, its highest level since May 1995.
* The five-year yield rose to as high as
2.09%, matching a record high marked last week, and was last up
1 bp to 2.085%.
* "Inflation fears grew after oil prices rose," said Miki
Den, senior Japan rate strategist at SMBC Nikko Securities.
* Oil prices rose, supported by uncertainty over the
reopening of the Strait of Hormuz, as Iran said a deal with Oman
defining new shipping lanes was in its final stages but insisted
the U.S. must still meet other conditions.
* The yen has given up some intervention-driven
gains, which also fuelled concerns about rising inflation, Den
added.
* The Japanese currency was last down 0.27% against the U.S.
dollar at 158.195.
* The BOJ's case for a September rate hike strengthened
after a growing chorus of policymakers argued for a more
forceful response to mounting inflation risks, a summary of
opinions at their July meeting showed on Monday.