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Japan's 2-year bond yield hits 17-year high ahead of BOJ Ueda's speech

BY Reuters | ECONOMIC | 11/30/25 07:56 PM EST

TOKYO, Dec 1 (Reuters) - Japan's two-year government bond yield rose to a 17-year high on Monday on caution for the Bank of Japan's early interest hike, with the market awaiting comments from the central bank governor later in the day.

The two-year JGB yield rose 1 basis point (bp) to 1%, its highest level since June 2008.

"The market is looking for the timing of the interest rate hike from (the BOJ Governor Kazuo) Ueda's remarks later in the day," said Miki Den, a senior Japan rate strategist at SMBC Nikko Securities.

JGB yields across the curve have been under upward pressure, with growing bets of the BOJ's interest hike. The market also weighed the size of Prime Minister Sanae Takaichi's stimulus plan, sending yields on longer-dated bonds to record highs.

The 20-year JGB yield rose 3 bps to 2.855%, its highest level since November 20.

Ueda will speak in Nagoya, home to auto giant Toyota Motor (TM) .

(Reporting by Junko Fujita; Editing by Rashmi Aich)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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