With benchmark Japanese bond yields breaking through a three-decade-old barrier, higher returns are starting to tease capital home, reversing what was once a dependable flow of funds into global bond markets. The 3% threshold is significant not just for funding costs in Tokyo, but ‌for turning around an investment flow that has made Japan the biggest owner of U.S. Treasuries and ⁠one of the most reliable buyers of sovereign debt ⁠worldwide. [...]