Tokyo, Japan, 17 August 2026 – Japan’s benchmark 10-year government bond yield climbed 5.5 basis points to 2.93 per cent, its highest level since 1996, as investors demanded greater compensation for fiscal uncertainty and the possibility of additional monetary tightening.
The 30-year yield rose 5 basis points to 4.06 per cent, approaching the record reached in May. The parallel move across maturities shows that the repricing is not limited to expectations for the Bank of Japan’s next decision; concerns about long-term inflation, debt supply and fiscal credibility are also influencing the curve.
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