TOKYO: Japanese government bond yields rose, tracking a similar move in U.S. Treasuries, on expectations for higher inflation and the prospect for additional debt supply under U.S. President Joe Biden’s administration.

The market remained under pressure even after a decent result of JGB auction on Friday, in which the Ministry of Finance offered an additional amount of some existing JGBs with one to five years left to maturity.

The tenders were 4.78 times oversubscribed, compared with 3.59 times last time.

The five-year yield rose 0.5 basis point to minus 0.115%. The 10-year JGB yield rose 0.5 basis point to 0.035%.

The 20-year JGB yield rose 1 basis point to 0.440%.

The two-year JGB yield was flat at minus 0.140%.