On the 21st of the month, the bond market in Japan experienced a significant sell-off of government bonds, leading to a rise in long-term interest rates. The yield on the 10-year Japanese government bond, a key indicator of long-term interest rates, surged to 1.61%. This level is notable as it has not been seen since October 2008, approximately 17 years ago.
The increase in bond yields can reflect various economic factors, including inflation expectations and changes in monetary policy. In Japan, where interest rates have been historically low, this rise is particularly significant and may indicate a shift in the economic landscape.
Source: www3.nhk.or.jp