The world's third-largest bond market crossed a line on Tuesday that it held for three decades, though the speed of the ascent is the more remarkable part.
The yields on Japanese 10-year bonds reached a level unseen since September 1996, driven by inflation, fiscal worries and near-certainty that the Bank of Japan will tighten this month, with that last expectation being actively encouraged from Washington at the G20 gathering in North Carolina.
