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Japan's 10-year government bond yield hits 30-year high amid oil surge and BOJ rate Outlook

Japan's benchmark 10-year government bond yield rose to 3.035%, its highest level in almost 30 years, after a jump in US long-term rates driven by surging crude oil prices, Jiji Press reported on September 15. The move takes the key long-term interest rate to its strongest level since September 1996, according to Japan Bond Trading Co., which quoted the yield on the newest 383rd issue of 10-year Japanese government bonds. Rising borrowing costs come as investors weigh the fiscal plans of Prime Minister Sanae Takaichi's administration against an expected tightening of monetary policy by the Bank of Japan. [...]