JGB yields rise to multi-week highs on BOJ bets, weak auction

Japanese government bond yields rose on Thursday, as market bets firmed for the Bank of Japan to start exiting stimulus as soon as next week, while a weak auction of 20-year securities added to selling pressure. An advance in U.S. bond yields overnight also lifted Japanese yields, as traders considered the view that the Federal Reserve might not cut interest rates until after June. The 10-year JGB yield rose 2.5 basis points to 0.780% as of 0420 GMT, reaching its highest level since Dec. 11.