Global Market: Japanese bond yields rise as traders price September BOJ rate hike

Prices for Japan’s corporate goods continued to rise at an elevated pace in July, keeping high cost pressure on companies, as central bank officials continue to consider whether to proceed with additional interest rate hikes to contain inflation.

Japanese government bond yields rose on Wednesday as markets increasingly priced in a September Bank of Japan rate hike. The benchmark 10-year yield climbed to 2.85%, while the two-year yield hit its highest level since 1995. Higher oil prices added to inflation concerns, while…