Japanese government bond prices soared on Monday as the Bank of Japan’s surprise introduction of negative interest rates last week drove yields for up to almost nine years below zero, Reuters reported. The two-year yield fell as much as 8.0 basis points to minus 0.160% while the five-year notes yield dropped to minus 0.110%, both record lows. The 10-year yield also fell to a record low of 0.050% , though the sector was an underperformer as investors braced for an auction of 10-year bonds on Tuesday. The 10-year JGB futures hit an all-time high of 150.78 and closed up 0.14 point at 150.56.
