Japan's 10-Year Bonds Hit Record Yield as Buyers Step Back

Japan's 10-year government bond auction on July 2 drew the weakest demand since April, pushing yields to 2.8%—a record high. The Bank of Japan is buying fewer bonds while the government plans to issue 28% more through 2029. Investors are reluctant to lock in long-term holdings at current rates, leaving fewer institutional buyers in the market.