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Japan’s 10-year bond coupon tops budgeted rate in ‘sci-fi’ spike
The Finance Ministry raised the coupon rate on newly issued 10-year government bonds to 3.1 percent per year, the highest level in 30 years, reflecting the increase in long-term interest rates. The coupon rate, set at an auction on Oct. 6, exceeded the assumed interest rate of 3 percent that the ministry used to calculate debt-servicing costs for the fiscal 2026 budget. [...]