Japan's 10-year bond yield falls to near 1-month low on BOJ relief

Japan's 10-year government bond yield fell to a nearly one-month low on Monday on investors' relief about the Bank of Japan (BOJ) continuing its ultra-low rate policy and as the need for adjusting portfolios boosted demand.

The 10-year JGB yield fell 1 basis point (bps) to 0.390%, its lowest level since May 23.

The BOJ maintained its ultra-easy monetary policy on Friday despite stronger-than-expected inflation, signalling it will remain a dovish outlier among global central banks and focus on supporting a fragile economic recovery.