Japan's 40-Year Bond Yield Hits 1.750%, Highest in Over a Decade

Japan's 40-year government bond yield rose 2 basis points to 1.750% in early Tokyo trade on July 3, its highest level in over a decade. Fiscal concerns over Japan's debt trajectory and sustained yen weakness drove long-end selling. One basis point equals 0.01 percentage point. The move extends a steepening pattern visible since at least November 2025, suggesting a structural repricing rather than a temporary dislocation.