Japan’s 10-Year Bond Yield Hits 2% for First Time Since 2006

Japan’s 10-year government bond yield hit the 2% milestone for the first time since 2006 after the Bank of Japan raised its benchmark interest rate to the highest in 30 years.

The bond yield rose 3.5 basis points at 12:56 p.m. in Tokyo, as yields on other tenors climbed. Japan’s yields have recently risen to multi-year highs across the curve, on renewed fiscal concerns as well as rising expectations of rate hikes.