Tokyo, Sept. 1 (Jiji Press)–The yield on the most recent 10-year Japanese government bond issue, a key long-term interest rate, rose to a 30-year high of 2.99 pct in Tokyo interdealer trading Tuesday. The yield on the 383rd 10-year JGB issue hit the highest level for a benchmark yield since October 1996, according to Japan Bond Trading Co. The latest rise in the yield reflects concerns about Japan’s fiscal health, amid increased wariness over Prime Minister Sanae Takaichi’s expansionary fiscal policy stance after it was learned that the total amount of general-account budget requests by government ministries and agencies for fiscal 2027 is likely to exceed 143 trillion yen. “It’s only a matter of time before the long-term interest rate hits 3 pct,” an official at a Japanese securities brokerage said. The 10-year JGB yield was also pushed up by higher U.S. long-term interest rates stemming from inflation fears, as crude oil prices rose after the United States and Iran exchanged attacks. END [Copyright The Jiji Press, Ltd.]
Key 10-Year JGB Yield Hits 30-Year High of 2.99 Pct
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