일 10년물 국채 금리 30년 만에 3% 돌파…글로벌 채권 시장 요동

Japan's government debt crisis and expectations for a rate hike today saw the yield on 10-year Japanese government bonds rise for the first time in 30 years, reaching 3% for the first time in 30 years. This rise in yields triggered a surge in yields on government bonds in the United States, the United Kingdom, Germany, and France.

The situation caused significant volatility in the global bond market. The U.S. Treasury Secretary expressed concerns over the potential additional increase in U.S. government bond yields and urged Japanese authorities to present a clear plan for fiscal consolidation and interest rate hikes. The 10-year Japanese government bond yield surged to 3.001% from the previous day's 2.941%, marking its highest level in 30 years since September 1996.

The yield on 10-year Japanese government bonds jumped sharply on the first day of the year, rising by 93 basis points to 3% after starting the year at 2.072%. Major global investment banks had recently forecasted that the yield on 10-year Japanese government bonds would rise to an average of around 2.95% by the end of the year. The sharp rise in yields in the U.S., U.K., Germany, and France on the previous day further amplified the volatility in the bond markets.

The U.S. government faces a dilemma as holding large amounts of Japanese government bonds, meant to defend the yen, could lead to further increases in U.S. government bond yields due to the interconnected nature of global bond markets.