Japanese government bond (JGB) yields surged on Wednesday, with long-term borrowing costs climbing to their highest levels in nearly three decades, as investors grew increasingly concerned about persistent inflation and the government's expansive spending plans, according to Reuters.
The benchmark 20-year JGB yield rose 4 basis points to 3.85%, its highest level since July 1996, while the 30-year yield gained 3 basis points to 3.97%. Meanwhile, the 10-year JGB yield advanced by as much as 2.5 basis points to 2.865%, marking its highest level since September 1996. Shorter-duration bonds also came under pressure, with the two-year yield rising 2 basis points to 1.42% and the five-year yield increasing 2 basis points to 1.975%.
