Japan's Long-Term Borrowing Costs Hit Record Highs

Japan's 30-year government bond yield hit a record 3.28% in mid-July 2026, Reuters reported — meaning investors demand more to lend Japan money for decades. The 20-year reached 2.69%, its highest since 1999. The 10-year rose over 70 basis points (0.70 percentage points) year-to-date to 2.69%, per CNBC. The pattern signals markets are undoing years of the central bank holding rates down.