The yield on the benchmark 10-year Japanese government bond reached 1.385 percent on Monday. That level has not been seen since April in 2010.

The yield has recently been on the rise, following the lead of high long-term interest rates in the United States.

Market sources pointed out that newly released Japanese gross domestic product figures exceeded market expectations. They said the view that the Bank of Japan will decide on an additional interest rate hike at an early date is spreading among investors, causing a rise in long-term interest rates.

The sources added that attention is focused on the contents of a speech scheduled for Wednesday by a BOJ policy board member.