Japan's 5-year bond yield hits 15-year high amid BOJ rate hike bets

Japan's five-year government bond yield soared to a 15-year high, driven by a weakening yen and speculation of a potential interest rate hike by the Bank of Japan. The yen's decline to a five-month low against the US dollar, fueled by expectations of increased government bond issuance, further exacerbated the situation.