Japanese Bond Yield Reaches New 30-Year High Amid Global Economic Concerns

The Japanese government bond yield has reached a new 30-year high of 3.035 percent, according to Japan Bond Trading Co.

This milestone was achieved on Tuesday after US long-term rates rose due to surging crude oil prices.

Crude oil prices soared following an attack on a key oil pipeline in Saudi Arabia, which led to concerns about accelerating inflation and triggered selling in the Japanese bond market.

The expansionary fiscal policy adopted by Prime Minister Sanae Takaichi's administration and expectations of accelerated interest rate hikes from the Bank of Japan also contributed to the selling.