Tokyo, Aug. 31 (Jiji Press)–The yield on the most recent 10-year Japanese government bond issue, a key long-term interest rate, briefly hit a 30-year high of 2.95 pct on JGB selling in Tokyo interdealer trading Monday. According to Japan Bond Trading Co., the yield on the 383rd issue marked the highest level for a benchmark yield since October 1996. It rose after U.S. long-term interest rates increased over the weekend, following a speech by U.S. Federal Reserve Chairman Kevin Warsh that spurred anticipation for an early policy rate hike. JGB selling was also driven by growing concerns about Japanese Prime Minister Sanae Takaichi’s expansionary fiscal policy, with the total amount of budget requests by government agencies for fiscal 2027 expected to be far higher than in the previous year. “The long-term interest rate may reach the key level of 3 pct as early as this week,” an official at a Japanese securities house said. END [Copyright The Jiji Press, Ltd.]
Key 10-Year JGB Yield Briefly Hits 30-Year High of 2.95 Pct
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