Japanese government bonds fall amid reports the government is considering increased defense spending

Japanese bond prices fell following reports that Japan is considering setting a medium-term defense spending target at 3.5% of GDP, aligning with NATO and other U.S. allies. The 30-year government bond yield rose 5.5 basis points to 4.12%. The 10-year bond yield rose 4 basis points to 3.025%. The yen fell 0.3% against the dollar to 154.82.