After years of moving at a glacial pace, yields in Japan’s $7.8 trillion government debt market are shifting higher at breakneck speed.
The moves in the nation’s longer-maturity bonds have been particularly acute, outpacing anything seen in other major markets.
The surge has pushed 30-year yields to within a whisker of a record high and to double the level of the benchmark 10-year rate, which has also ascended rapidly after being near zero just four years ago.
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