Japan Rate Hike Expectations Lift Two-Year Bond Yields Above Zero

(Nikkei Asia) — The yield on two-year Japanese government bonds turned positive for the first time in seven years on Wednesday, in a sign that traders anticipate an end to the Bank of Japan’s negative interest rate policy.

Also on Wednesday, the benchmark 10-year JGB yield reached 0.48%, near the top of the wider band set by the central bank in its surprise policy shift on Tuesday.