British News Agency

According to CCTV, the yield on Japan's benchmark 10-year government bond rose to 2.950 percent on Monday, reaching its highest level since October 1996.

As bond yields and prices move in opposite directions, the rise in yields indicated increasing selling pressure on Japanese government bonds.

According to assessments in the Japanese media, strengthening market expectations that the Bank of Japan could raise interest rates earlier than anticipated were among the main reasons for the bond sell-off. The knock-on effect of rising long-term interest rates in the United States was also reported to have increased selling pressure on Japanese government bonds.