Japan's 10-year bond yield hits BOJ's new 0.5% cap

Government debt finds few buyers beyond the central bank

20230106N JGB

Japan's benchmark 10-year bond yield hit 0.5% on Jan. 6. (Photo by Kosuke Imamura)

Nikkei staff writers

TOKYO -- The yield on 10-year Japanese government bonds rose to a seven-year high of 0.5% on Friday, hitting the Bank of Japan's new upper limit in just weeks as other buyers shy away from the asset.

Market players showed little interest in the new benchmark 10-year JGB on Friday. The instruments finally sold around 2 p.m., many to the BOJ itself.

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