Japanese Government Bond Prices Fall as Defense Spending Target Is Reportedly Considered

Japanese government bond prices fell after reports said Japan is considering setting a medium-term defense spending target at 3.5% of GDP, in line with NATO and other U.S. allies. According to Sina Finance, the 30-year government bond yield rose 5.5 basis points to 4.12%, while the 10-year yield climbed 4 basis points to 3.025%. The yen also fell 0.3% against the U.S. dollar to 154.82.