October 4, 2018 / 4:29 AM / 8 months ago

Benchmark JGB yield highest since Jan 2016 as Treasury yields rise

TOKYO, Oct 4 (Reuters) - The benchmark Japanese government bond yield rose to its highest since January 2016 on Thursday, boosted as its U.S. Treasury counterpart spiked to a seven-year high.

The 10-year JGB yield was 2 basis points higher at 0.155 percent.

The last time the 10-year yield was at that level was on Jan. 29, 2016, the day the Bank of Japan announced the adoption of a negative interest rate policy and triggered a plunge in yields.

Super-long JGB yields rose significantly as well on Thursday. The 30-year yield was 3.5 basis points higher at 0.950 percent, the highest since February 2016.

The 10-year Treasury note yield stretched its overnight spike and touched 3.200 percent, its highest since July 2011.

Treasury yields jumped on Wednesday after robust economic data bolstered the case for the Federal Reserve to raise interest rates again in December and beyond. (Reporting by the Tokyo markets team, Editing by Sherry Jacob-Phillips)

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