Japanese bond yields surge as Asian currencies weaken
JGB yields jumped across the curve while the yuan midpoint and Malaysian ringgit weakened, with Japan's PM addressing inflation risks.
What we know
Market news accounts report the 5-year JGB yield up 8.5bp to 2.185%, and the 10-year up 6.5bp to 2.755%. Takaichi said Japan won't pursue fiscal policies that risk driving inflation excessively higher. The yuan midpoint weakened to its lowest since Oct 22, and the ringgit fell to its weakest since Nov 4.
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