Japan's Long-Term Yield Briefly Hits 2.945%, Highest in About 30 Years
Japan's benchmark long-term interest rate briefly rose to 2.945% as government bonds were sold on August 18, reaching a fresh high not seen in about 30 years as uncertainty in the Middle East pushed up crude oil futures and fueled expectations that inflation could accelerate. (News On Japan)
Japan's benchmark long-term interest rate briefly reached 2.945% on August 18, marking the highest level in about 30 years. The surge occurred as government bonds were sold due to rising crude oil futures and heightened concerns about potential inflation acceleration. The 10-year government bond yield surged to as high as 2.945%, surpassing the previous 30-year peak. Factors contributing to the selling included uncertainty in the Middle East, where crude oil prices climbed, and concerns over Japan's fiscal situation.
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