The yield on US treasuries is rising, the market is watching the results of the Japanese election.

The yield on US Treasury bonds rose during the Asian trading session, with the market currently focusing on the overwhelming victory of the ruling coalition led by Japanese Prime Minister Fumio Kishida in Sunday's lower house elections. The next potential driver for US Treasury bonds is the delayed release of the January jobs report, which will be published on Wednesday and is a key piece of information to guide market expectations on when the Federal Reserve may cut interest rates again. According to data from the London Stock Exchange Group, yields on US Treasury bonds of various maturities all rose, with the yield on 2-year bonds rising by 2.1 basis points to 3.514% and the yield on 10-year bonds rising by 3.2 basis points to 4.237%.