Japan 10-Year Yield Hits 27-Year High

2026-03-27 06:37 By Jam Kaimo Samonte 1 min. read

Japan’s 10-year government bond yield climbed to around 2.37% on Friday, reaching its highest level since 1999 as an oil-driven inflation shock linked to the Middle East conflict reinforced expectations of a near-term interest rate hike from the Bank of Japan.

Hawkish bets were further supported by a sharp weakening of the yen, which has remained under pressure from rising energy costs given Japan’s reliance on oil imports from the region.

Last week, the BOJ kept its policy rate unchanged but maintained a tightening bias, with Governor Ueda leaving the door open for a possible April hike.

Analysts are now pricing in a potential 25 basis point increase to 1% at the central bank’s April 28 policy meeting.

Oil prices stayed elevated amid conflicting signals from the US and Iran regarding diplomatic efforts to resolve the conflict.



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Japan 10-Year Yield Hits 27-Year High
Japan’s 10-year government bond yield climbed to around 2.37% on Friday, reaching its highest level since 1999 as an oil-driven inflation shock linked to the Middle East conflict reinforced expectations of a near-term interest rate hike from the Bank of Japan. Hawkish bets were further supported by a sharp weakening of the yen, which has remained under pressure from rising energy costs given Japan’s reliance on oil imports from the region. Last week, the BOJ kept its policy rate unchanged but maintained a tightening bias, with Governor Ueda leaving the door open for a possible April hike. Analysts are now pricing in a potential 25 basis point increase to 1% at the central bank’s April 28 policy meeting. Oil prices stayed elevated amid conflicting signals from the US and Iran regarding diplomatic efforts to resolve the conflict.
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Japan 10 Year Government Bond Yield increased to 2.35%, the highest since January 2026. Over the past 4 weeks, Japan 10Y Bond Yield gained 28.22 basis points, and in the last 12 months, it increased 79.33 basis points.
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