Benchmark JGB yields edge lower as government signals issuance restraint
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Benchmark Japanese government bond yields edged lower as the government signaled a restraint in debt issuance. The 10-year JGB yield fell to 2.035%, retreating from a 26-year peak. Prime Minister Takaichi assured market discipline in fiscal policy, likely reducing super-long securities issuance. Core consumer prices in Tokyo rose 2.3% in December, above the BOJ's target. The BOJ raised interest rates to 0.75%, with Governor Ueda noting gradual inflation acceleration. Super-long-term bonds rallied, with the 30-year yield dropping to 3.38%.
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