0247 GMT - JGBs fall in price terms in the Tokyo session. Bank of Japan policy board member Naoki Tamura's comments last week and possible wage increases have bolstered confidence that the BOJ should continue to raise rates, says Christopher Wong of OCBC's FX and Rates Strategy in a note. Several Japanese companies have signaled their intention to raise wages by over 5% this year and domestic bank earnings this year have exceeded expectations so far, Wong says. "These anecdotal evidence points to another year of solid wage increase and meets the pre-requisite for BOJ to continue with hiking rates," Wong adds. The 10-year JGB yield rises 2bps to 1.320%, the highest intraday level since April 2011. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 09, 2025 21:47 ET (02:47 GMT)
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