The move marks the highest level on record for Japan’s longest-dated government bond, pointing to rising borrowing costs in a market long defined by ultra-low yields.
Japan’s 40-year government bond yield rose to 4.345%, the highest level on record, according to the source. The increase signals higher long-term borrowing costs in Japan and stands out because Japanese government bonds have historically traded with very low yields under the country’s long-running easy monetary conditions. Moves in long-dated sovereign yields can affect global risk appetite, funding conditions, and demand for alternative assets including digital assets.