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Japanese 10-year bond yield hits 3.1%
Japan's Ministry of Finance has raised the yield on its 10-year government bonds to 3.1 percent, the highest level in nearly 30 years, to reflect the recent rise in long-term interest rates. The coupon rate had increased from 2.7 percent in the previous September auction, indicating growing concern over inflation driven by rising oil prices, as well as upward pressures on long-term U.S. interest rates that affect Japan. This increase in bond yields signals the government's easing of its efforts to secure more funding from the market amid fears of continued rises in interest rates and inflation.
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