Japanese government bonds continued to drop on Monday, sending the benchmark yield to a five-week high, after the Bank of Japan’s policy easing steps on Friday disappointed investors hoping for additional bond purchases, Reuters reported. The 10-year JGB yield added 4 basis points to minus 0.140%, after earlier rising as high as minus 0.130% earlier, its highest since June 23. On Tuesday, Japan’s Ministry of Finance will offer 2.4 billion yen ($23.42 million) of 10-year JGBs. The superlong zone also weakened, with the 20-year JGB yield rising 3 basis points to 0.210% and the 30-year JGB yield adding 2.5 basis points to 0.285%.
