Japan's Bond Yields Soar to Highest Level Since 1996
Japan's 10-year bond yield has reached its highest level since 1996, climbing to 3.08% this week.
The move comes as global markets experience multi-year highs in borrowing costs, with both Japanese and U.S. yields nearing their weekly highs.
The Bank of Japan's decision to raise its policy rate to 1.25% this month did not seem to stem the rise in bond yields, which continued upwards despite the increase.