The yield on Japan's 10-year government bond has hit 1 percent. That's an 11-year high.
The benchmark-bond yield on Wednesday briefly rose to a level not seen since May 2013. Yields rise when government bond prices fall.
Investors sold on the view that the Bank of Japan may normalize its massive monetary easing policy earlier than expected.
The BOJ's announcement last week of reducing purchases of government bonds has boosted expectations for rates to rise.
The 10-year bond yield has been climbing since late March when the central bank adjusted its easing measures. They include ending negative interest rates and the yield curve control on long-term bonds.