Japanese bond yields test BOJ ceiling ahead of YCC decision.
Japanese government bond yields surged, reaching the upper limit of the Bank of Japan's control range, amid market speculation about a possible shift in the bank's ultra-dovish stance.
The 10-year Japanese government bond yields rose 13.5% to 0.50%, marking the first time in four months that they tested the upper end of the BOJ's yield curve control range.
The move followed a Nikkei report indicating that the central bank was contemplating changes to its YCC policy during a meeting on the same day.
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