미국이 당긴 국채 급락 확산…일본 이어 유럽 주요국으로

A wave of U.S. government bond defaults has spread to Japan and other major nations. This has resulted in soaring interest rates, leading each country's government to bear the highest borrowing costs in decades. Japan's 10-year government bond yield surged to 3.018% on the day, nearing the 3% mark for the first time since 1996. Similarly, 5-year Japanese bonds hit a record high of 2.295%, the highest in history.

The Bank of Japan's policy-making member, Kaifu Kashihara, called for a rapid increase in the benchmark interest rate, which further fueled the rise in government bond yields. According to Reuters, Japan's 10-year bond yield could climb to 3.2% next month, potentially doubling Prime Minister Fumio Kishida's borrowing costs since his October 2021 inauguration.

The sharp rise in Japanese government bond yields highlights the global shift towards a higher interest rate environment. Meanwhile, U.S. 10-year bond yields reached nearly a 3-year high at 4.81%, with forecasts suggesting they could climb to 5%. This trend is causing further turbulence in financial markets. The 30-year U.S. Treasury bond reached a record high of 5.3%, its highest level since 2007.

British 30-year bonds and German 10-year bonds also hit record highs, reflecting the global rise in interest rates. The surge in bond yields is driven by increased bond sales by countries to offset inflation concerns, as investors anticipate lower real returns on their investments. Countries are issuing bonds at higher interest rates to meet this demand.

Additionally, U.S. big tech companies seeking AI investments are issuing large amounts of corporate bonds to fuel this trend.