Super long JGB yields hover near yearly highs

Japanese 30-year and 40-year government bond yields are trading at the highest level since February 24, 2016.

The 30-yr yield clocked a high of 0.914% today and the 40-year yield rose to 1.068%. The uptick in the yields at the long-end of the curve could be the reason for the strength in the Japanese Yen.

The BOJ is actively working to stem the rise in the long duration yields, especially the 10-yr yield which currently hovers around 0.096%.