The coupon increase follows a surge in the benchmark 10 year yield to 3.129% on Oct 2, marking its highest level in more than 30 years. This movement coincides with a global bond selloff and claims of rising fiscal fears, though the recent auction results suggest investors remain attracted to Japan's sovereign debt.
Tuesday, October 20, 2026
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Japan Sets 3.1% Coupon on 10 Year Bonds First in 30 Years
Global Markets15 days ago
A ¥2.6 trillion offering of long term sovereign debt by the Japanese government drew investor appetite that exceeded the 12 month average. The 10 year bond auction featured a coupon of 3.1%, the highest for the instrument in about 30 years. An auction tail of 0.02, down from 0.12 in the previous sale, indicates that elevated yields spurred buying during the issuance.
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