Policy-sensitive two-year JGB yield rose as much as 4bps to 1.975% on Monday, approaching the key 2% level and marking its highest since 1995. Other tenors were under pressure: the five-year yield climbed 3bps to 2.43%. SMBC Nikko Securities strategists Omura and colleagues said in a note that greater domestic and foreign attention on yen weakness is fueling trades betting on faster BOJ tightening, and that fiscal expansion in major economies plus rising commodity prices could further reinforce

YONHAP reported the Korea Procurement Service said on the 28th it will extend procurement stabilization measures for goods affected by prolonged high oil prices, originally due to expire at month-end, through the end of the year. The measures target oil-sensitive asphalt concrete and volume-based municipal trash bags; they suspend second-stage competitive bidding among multiple suppliers to accelerate supply and relax price-adjustment rules so vendors can pass through raw-material cost increases. The measures were first introduced in March in response to sustained high oil prices caused by the Middle East war.

Interfax reported the Russian Defence Ministry said Russian forces hit a cargo ship in the Black Sea.