Hawkish BoJ lifts 10-year yield to three-decade high
The 10-year JGB yield climbed to a three decade high this week in response to hawkish signals from the Bank of Japan and reports that the government will compile a supplementary budget to keep the existing fuel subsidies in place for longer. Indeed, with producer prices recording the largest monthly gains in decades in April, the case for a rate hike in June is increasingly compelling.
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