Reuters
Rises in U.S. Treasury yields in Tokyo trading also added pressure on yen bond yields as investors digested news that First Citizens would buy large parts of failed Silicon Valley Bank's deposits and loans. The 40-year JGB yield rose 4 basis points (bps) to 1.615% as of 0650 GMT, and earlier reached 1.62% for the first time since March 10, with the finance ministry due to auction 40-year securities on Tuesday. "From this week, I expect the year-end buying needs of JGB investors will be finishing up, and there's potential for a rebound in yields after the declines since mid-March," Noriatsu Tanji, chief bond strategist at Mizuho Securities, wrote in a client note.