Japan Yields Soar Amid Fed Hawkishness

Japan's benchmark government bond yields reached a 30-year high on Monday, as the yen showed renewed signs of weakness following hawkish signals from the U.S. Federal Reserve.

The yield on the Japanese government bond (JGB) with a 10-year maturity rose to 2.95% on August 31, marking the highest level since 1994.

This move came after U.S. Federal Reserve Chair Kevin Warsh's remarks at Jackson Hole on August 28, which were interpreted as leaving the door open for further interest rate hikes.

The yen weakened against major currencies following the Fed's signals, with the dollar rising to 114.55 yen from 113.85 earlier in the day.