In the New York bond market on the 19th, the view that the United States will continue to raise interest rates further strengthened, and long-term interest rates temporarily rose to the 3.5% level for the first time in 11 years and 5 months.
The rise in long-term interest rates in the United States is a factor in the rapid depreciation of the yen in the foreign exchange market.
In the New York bond market on the 19th, the view that the FRB = Federal Reserve Board, which is the central bank of the United States, will hold a meeting to decide monetary policy from the 20th, further strengthened the view that interest rates will continue to be raised.
As a result, US government bonds were sold, and long-term interest rates temporarily rose to the 3.5% level.
It is the first time in 11 years and 5 months since April 2011 that it has reached the 3.5% level.
In the foreign exchange market, in response to the rise in long-term interest rates in the United States, the movement to sell the yen and buy the dollar, which can be expected to yield more, has increased, and the yen is depreciating rapidly. 1 dollar = traded at a level centered around the first half of the 143 yen range.
Long-term interest rates in the United States temporarily remained below 1% after the FRB embarked on large-scale monetary easing measures in response to the spread of the new coronavirus infection in March 2020. Against the backdrop of recovery and inflation, it turned upward, and in May this year it rose to the 3% level.