Japan’s benchmark 10-year government bond yields rose to a four-month high on Wednesday, tracking gains in U.S. Treasury yields, amid the absence of a domestic market-moving catalyst.

The 10-year JGB yield rose two basis points to 0.080%, its highest since June 8, while 10-year JGB futures fell 0.19 points to 151.32, with a trading volume of 24,213 lots.

U.S. Treasury yields rose overnight, as worries about the debt ceiling prompted investors to move away from the shortest end of the curve, while inflation concerns weighed on longer-dated debt.

Yields on other maturities rose, with the 20-year JGB yield gaining one basis point to 0.445% and the 30-year JGB yield advancing 0.5 basis point to 0.680%.

The 40-year JGB yield rose 0.5 basis point to 0.765%.

The two-year JGB yield rose 0.5 basis point to minus 0.120% and the five-year yield rose 1 basis point to minus 0.085%.

Reuters