Japan's 10-year gov't bond yield hits highest level since Sept. 1996

TOKYO, Sept. 24 (Xinhua) -- Japan's benchmark 10-year government bond yield temporarily spiked to 3.055 percent on Wednesday, the first trading day after the country's five-day Silver Week holiday period.

This photo taken on Jan. 23, 2026 shows an exterior view of the Bank of Japan in Tokyo, Janpan. (Photo: Xinhua)

According to public broadcaster NHK, the 10-year government bond yield, a key barometer of long-term interest rates, reached its highest level since September 1996.

Higher bond yields will put further pressure on Japan's debt-servicing costs. According to the International Monetary Fund, Japan has the highest public debt ratio among advanced economies, at about 207 percent of its gross domestic product. That is roughly double the average of the Group of Seven economies.