Japanese 10-year yield hit a fresh record low

FXStreet (Mumbai) - The 10-year Japanese government bond (JGB) yield declined to hit fresh record lows, thereby extending the trend witnessed in the benchmark bond yields across most of the developed world in the last week.

The 10-yr yield fell to 0.205%, from the previous close at 0.207% as the Japanese government continues to buy an unprecedented amount of debt. The yield declined after the Japanese government offered to buy JPY 780 billion of debt from the market today. Though the fall in the yield was due to domestic reasons, the movement is largely in line with benchmark yields across most of the advanced world amid the race to implement ultra easy monetary policies across Asia and Europe.