Japan Long-Term Yields Climb Again—30-Year and 20-Year Bonds Hit Record Highs

(Seoul=Yonhap Infomax) Yong Wook Kwon – Japanese long-term government bond yields continued to rise, led by ultra-long maturities.

The yield on Japan’s 30-year government bond rose 6 basis points to 3.4% as of 13:33 local time, marking an all-time high.

The 20-year bond yield also surged to a record 2.87%, while the 10-year yield climbed to 1.83%, the highest level since 2008.

With the Japanese government set to announce new economic stimulus measures, concerns over fiscal sustainability have intensified, prompting a sell-off in ultra-long bonds.

According to local media reports, the total size of Japan’s upcoming stimulus package is expected to exceed 21 trillion yen.

Kyodo News reported that the Japanese government is adjusting the scale of its 2025 supplementary budget, combining additional expenditures and major tax cuts, to around 21.3 trillion yen (approximately 198.7 trillion won).

This figure surpasses the previously anticipated 17 trillion yen, with Kyodo News having reported the day before that the package would exceed 20 trillion yen.

Prime Minister Takaiichi’s cabinet, which has emphasized aggressive fiscal policy, plans to announce the economic package at a Cabinet meeting on the 21st.

ywkwon@yna.co.kr

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