On Monday, Japanese Government Bond (JGB) yields rose to new highs, as the increase in US Treasury yields on Friday precipitated investors to take action and assess the possibility of the Bank of Japan tweaking its monetary policy decisions.

The day before the Bank of Japan will announce its decision on monetary policy, the 10-year JGB yield increased 2 basis points (bps) to a decade-long high at 0.89%.

The yields in JGBs, which move in the opposite direction of bond prices, have been driven up to record highs recently as US Treasury yields have risen and amid speculation that the Bank of Japan might adjust its yield curve control (YCC) policy.

Despite increasing pressure, analysts expect the BoJ will maintain its short-term rate target of -0.1%, and its long term rate target at about 0%, under its YCC policy.

Amid the speculation, there were “mixed” results at the end of an auction for the 2-year note, which Shoki Omori, chief Japan desk strategist at Mizuho Securities, noted, saw investors buying ahead of the auction.

Th two-year JGB yield inched up to 0.095% just prior to the auction, the highest it has been since January of 2014.

Omori noted that although the bid-to-cover ratio, which is used as a measure of demand during auctions, was the weakest seen in some time at 3.04, the overall results of the auction aren’t “bad if you consider markets are expecting some sort of hawkish message or twist in policy tomorrow.”

The five year yield is at 0395%, the highest level seen since May of 2013.

At the long end, the 20-year JGB yield rose 2 bps to 1.68%.

The 30-year JGB yield was up 1.5 bps to 1.85%.