U.S. yields are slightly higher Monday morning after Bank of Japan Gov. Kazuo Ueda hinted at a possible end to negative interest-rate policy.
Bond yields rose Monday after the Bank of Japan hinted of an end to negative interest rates and traders eyed crucial U.S. data later in the week.
Ten-year JGB yields BX:TMBMKJP-10Y rose above 0.7% to their highest since 2014, nudging up equivalent duration U.S. and European yields, after Bank of Japan Governor Kazuo Ueda told the Yomiuri newspaper in an interview 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.
Investors were also contemplating the prospects for U.S. monetary policy ahead of consumer prices data due Wednesday, and a retail sales report on Thursday that may color the thinking of the Federal Reserve ahead of its rate-setting meeting next week. The chances of a 25 basis point rate hike to a range of 5.50 to 5.75% at the subsequent meeting in November is priced at 39%.
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