Japan's 30-Year Bond Yield Hits 2.845%, Up 12 Basis Points, Highest Since 2004 Amid Global Sell-Off

Japan's 30-year government bond yield surged 12 basis points to 2.845%, marking its highest level since 2004. This increase reflects a broader sell-off in global bond markets, with Japan's yield reaching levels not seen in 19 years. The yield spread between Japan's 30-year and five-year bonds has widened to its most significant premium since 2002, driven by rising fiscal concerns and weak auction demand. The sell-off in Japan coincides with similar trends in the U.S., Australia, and Europe, as investors shift towards cash and safe-haven currencies amid market volatility. The U.S. Treasury market has also reacted sharply, with the 10-year yield recently hitting 4.592%, the highest since February, as concerns mount over former President Donald Trump's new tariff proposals and a multi-trillion-dollar budget blueprint.