Japan's 10-year bond yields fall as BOJ keeps rate targets unchanged

Japan's benchmark 10-year bond yields fell on Wednesday, after the Bank of Japan kept its interest rate targets unchanged, though rising U.S. bond yields limited losses.

The BOJ left unchanged a -0.1% target for short-term interest rates and a pledge to guide long-term rates around 0% at a two-day meeting that ended on Tuesday.

The benchmark 10-year JGB yield fell 0.5 basis point (bps) to 0.140% and the 10-year JGB futures rose 0.15 point to 150.89, with a trading volume of 16,919 lots.

U.S. Treasury yields extended gains during the Asian trading hours, with the 10-year yields hitting their highest since January 2020,