Yen Rallies on BOJ Report; Asia Stocks Seen Mixed: Markets Wrap

Japan’s 10-year bond yield climbed to a new decade-high following a report the central bank will discuss tweaking its yield-curve control at a policy meeting ending Tuesday. Most Asian stocks fell after China manufacturing contracted.

The yield on Japan’s 10-year bond rose to 0.955%, approaching the Bank of Japan’s 1% ceiling before trimming its advance. The BOJ will consider letting the yield temporarily climb above 1%, the Nikkei reported, without saying where it got the information. The yen’s slide last week to a fresh year-to-date low, rising yields and inflation stickiness have fueled speculation the BOJ will adjust its policy settings this week.