Japan's 10-year government bond yield rises to 11-year high

TOKYO -- Japan's 10-year government bond yield rose to the highest level since May 2013 in Tokyo on Monday, as investors speculate that the Bank of Japan might raise the policy rate or cut the government bond purchases due to the weak yen.

The yield hit 0.975% at one point on Monday, rising 0.03 of a percentage point from Friday's closing. The 10-year JGB yield has risen 0.355% this year as the Bank of Japan has strengthened its hawkish stance and works to normalize its ultraloose monetary policy.