JGB yields track US peers up as investors weigh weak yen’s impact on BOJ path

Japanese government bond (JGB) yields rose on Wednesday, tracking their U.S. peers at the same time that a weakened yen ramped up expectations that the Bank of Japan (BOJ) will normalise its ultra-easy monetary policy in March. The 10-year JGB yield was last up 2.5 basis points (bps) at 0.750%, and touched its highest since Dec. 12 at 0.765% earlier in the session. U.S. Treasury yields, which Japanese yields tend to follow, climbed overnight after the domestic consumer price index (CPI) report surprised to the upside.