Japan's benchmark 10-year government bond yield climbed to its highest level in nearly three decades on Thursday as a renewed surge in oil prices stoked inflation concerns and investors remained cautious about the country's fiscal outlook, according to Reuters.
The yield on the benchmark 10-year Japanese Government Bond (JGB) rose 1.5 basis points to 2.880%, its highest level since September 1996. Bond yields move inversely to prices, meaning rising yields reflect selling pressure in the bond market.
