Japan's 10-Year Government Bond Yield Hits 2.79% for Sixth Consecutive Session, Near 30-Year High

According to Jin10, Japan's 10-year government bond yield rose to 2.79% on July 6, marking its sixth consecutive day of gains and approaching Friday's intraday peak of 2.81%. This level is the highest since October 1996. The sustained rally over the past month, particularly in longer-dated bonds, has been driven by inflation concerns stemming from energy shocks, yen weakness, and worries about rising government spending.

Koji Miyajima, senior economist at Sony Financial Group, noted that "market concerns about fiscal expansion and caution regarding monetary policy management remain deeply rooted, making it difficult for long-term and super-long-term rates to decline."