Japanese government bond yields surged to multi-year highs as Tokyo markets reopened after a three-day holiday, tracking a sharp overnight sell-off in U.S. Treasuries. The 10-year Japanese yield rose 8 basis points to 3.06%, its highest level since August 1996, while the 30-year yield climbed 5.5 basis points to 4.12%. The U.S. 10-year Treasury yield held at 5.11% after reaching its highest level since 2007. Asian stocks were mixed, with the MSCI Asia ex-Japan index down 0.64%, Japan’s Nikkei 225 up 1.73% and Australia’s S&P/ASX 200 falling 1.2% to a more than three-month low. Investors also monitored tensions between the United States and Iran, with oil easing from recent highs after threats by U.S. President Donald Trump and a vow by Iran’s leader not to surrender. Brent crude fell 1% to $102.05 a barrel, while West Texas Intermediate declined 0.74% to $91.48. Markets were awaiting central-bank speeches and U.S. economic data, including jobless claims, for clues on future rate increases. A meeting between Trump and Chinese President Xi Jinping was also in focus, with Treasury Secretary Scott Bessent saying the countries had reached a deal to extend their 11-month trade truce. The dollar retained safe-haven support in a risk-off environment, while gold rose and Bitcoin and Ether edged higher.