JGB Yields Edge Higher on US Treasury and Oil Price Moves

Japanese government bond (JGB) yields rose on Tuesday as investors tracked a hike in US Treasury yields and oil prices. The benchmark 10-year JGB yield increased by 1.5 basis points to 2.895%.

The rise in Japanese yields was influenced by movements in U.S. Treasury yields and oil prices, with the domestic market lacking major market-moving cues. Oil prices steadied on Tuesday after falling more than 2% in the previous session.

Investors are closely watching upcoming comments from Bank of Japan Deputy Governor Ryozo Himino, who is scheduled to attend a meeting with local leaders in Saitama on Thursday. His remarks could provide clues about the possibility of another Bank of Japan interest rate hike at its September policy meeting.