Japanese government bond yields spiked on Friday, with the 10-year jumping the Bank of Japan's target rate, before the central bank lassoed it back into place.
The benchmark 10-year JGB yield jumped as high as 0.155 percent in intraday trade on Friday, the highest levels in around a year, around the time that the BOJ surprised markets by introducing negative interest rates.
The rise in yields also enhanced the attractiveness of the yen, which climbed against the greenback. The dollar at one point fetched as little as 112.49 yen.
But by 1:43 p.m. HK/SIN, the 10-year yield had slipped back to 0.098 percent and the dollar was fetching more than 113 yen.
The 10-year yield eased after the BOJ stepped in to the market with a special operation, with Reuters reporting the central bank offered to buy the benchmark bond at a yield of 0.110 percent, implying a much higher price than levels prevailing in the secondary market. Bond prices move inversely to yields.