Japan 10-Year Bond Yield Tops 3% for First Time Since 1996

Japan's benchmark 10-year government bond yield rose above 3% on Tuesday for the first time since 1996, marking a significant milestone as investors grapple with persistent inflation, growing fiscal concerns, and expectations for further monetary tightening by the Bank of Japan. The yield climbed as much as six basis points to reach the threshold, extending a sharp upward trend that has seen the benchmark rate more than triple from its 2024 levels. The move is part of a broad global bond selloff, with analysts pointing to a combination of factors driving the repricing. Renewed military attacks in the ongoing U.S.