Japan's JGB Yield Climbs to Three-Decade Peak Amid Inflation Worries

Japan's benchmark 10-year government bond yield has reached a three-decade high of 2.95% due to rising overseas bond yields and speculation about a near-term interest-rate increase by the Bank of Japan.

The 10-year JGB yield rose 2.5 basis points on Tuesday, surpassing its previous peak since September 1996.

This surge is attributed to inflation worries driven by climbing oil prices and stalled peace talks in the Middle East.

Expectations are mounting for the BOJ to raise rates at its next policy meeting in September, with central bank officials expressing increasingly hawkish comments.