The yield on the newly issued 10-year government bond, a benchmark for long-term interest rates, briefly reached 3.000%. Against a backdrop of concerns over expansionary fiscal policy, there is a view that selling of government bonds will spread.
The yield on the newly issued 10-year government bond briefly reached 3.000%, pushing long-term interest rates up to around 3%, a level not seen in 30 years. A monitor showed the scene in Chuo Ward, Tokyo, drawing attention to movements around this benchmark level.
The market backdrop was concern over more expansionary fiscal policy, and a view was reported that selling of government bonds would spread. There was also an indication that the yield moved in a range around 2.985% and 2.990% at times during the morning.