There are reports that Japan is considering setting a medium-term defense spending target of 3.5% of GDP, in line with NATO and other US allies. Affected by this news, the price of Japanese bonds fell. The yield on 30-year government bonds rose 5.5 basis points to 4.12%. The 10-year Treasury yield rose 4 basis points to 3.025%. The yen fell 0.3% against the US dollar to 154.82.

There are reports that Japan is considering setting a medium-term defense spending target of 3.5% of GDP, in line with NATO and other US allies. Affected by this news, the price of Japanese bonds fell. The yield on 30-year government bonds rose 5.5 basis points to 4.12%. The 10-year Treasury yield rose 4 basis points to 3.025%. The yen fell 0.3% against the US dollar to 154.82.