The yield on Japan’s newly issued 10-year JGB (Japanese government bond) briefly reached 3.000% on September 11, returning to the 3% range for the first time since September 2. The yield rose 0.090 percentage points from the previous close. The bond, the 383rd issue with a 2.7% coupon, is a benchmark for long-term interest rates. The move followed a rise in U.S. long-term yields after President Trump said he would provide $5,000, or about ¥770,000, to every adult American citizen if the Republican Party wins control of both chambers of Congress in the midterm elections. U.S. yields briefly reached their highest level in about two years and 10 months, prompting selling of Japanese government bonds. Expectations that the intensifying conflict between the United States and Iran could persist also pushed global benchmark crude oil futures briefly into the $104-per-barrel range, their highest level in about four months. Higher oil prices raised concerns that inflation could reaccelerate, adding pressure to interest rates in both countries. Market participants said renewed price pressures could increase speculation about reduced monetary easing or further rate hikes, while continuing concerns over Japan’s fiscal management could keep long-term yields elevated.