Japan’s benchmark 10-year government bond yield rises above 3% for the first time in decades, reaching the 3% level on Tuesday. Multiple outlets describe it as the first time since 1996 or, in some wording, since the mid-to-late 1990s.
The move is framed as a milestone after years when Japanese benchmark borrowing costs were close to zero. Bloomberg and others link the shift to the broader return of bond-market conditions toward “normality” after a long period of near-zero yields. Other reports add that investors are weighing inflation and Japan’s fiscal concerns, with references to intervention and verbal support from officials. Euronews also places the development in a global context, describing sovereign bond sell-offs and noting that a G20 meeting involves pressure related to the pace of rate increases.
