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JGB two-year yield at 10-year high above 0.955 pct

Tue May 29, 2007 8:50pm EDT

TOKYO, May 30 (Reuters) - The yield on two-year Japanese government bonds rose to a fresh 10-year high on Wednesday as sentiment remained weak despite an unexpected drop in Japan's industrial production figures.

Bonds

The two-year yield rose 0.5 basis point to 0.975 percent JP2YTN=JBTC while June 10-year JGB futures fell to a fresh nine-month low of 133.04 2JGBv1 earlier in the session.

While the weak output data eased worries about the Bank of Japan raising interest rates in the coming months, market players were still concerned about a rate hike risk after surprisingly strong data on jobs and household spending released on Tuesday.

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