Japan's 10-Year Bond Yield Hits Fresh 30-Year High Amid Global Economic Concerns

The Japanese government's 10-year bond yield has reached its highest level in over three decades, surpassing 3% for the first time since September 1996. This increase is attributed to a global selloff in bonds, driven by rising energy prices and concerns about inflation.

The Bank of Japan (BOJ) is expected to raise its policy rate to 1.25% on Friday, its highest level since April 1995, as the central bank seeks to address persistent price risks. This move has been urged by US Treasury Secretary Scott Bessent, who believes that a tighter monetary policy would help curb excessive yen weakness.

The recent developments in global markets are also being closely watched due to their potential impact on oil prices. The East-West pipeline in Saudi Arabia remains shut, and Ukraine disputes President Trump's claim that an agreement has been reached with Russia to halt attacks on energy infrastructure.