Japan's 10-year bond yield hits 30-year high following sell-off in Treasurys

Rise in Japanese bond yields tracked higher U.S. Treasury yields, which according to UOB, had surged to near two-decade highs across the curve Earlier this month, Japan's benchmark borrowing costs reached highest level in three decades, after U.S. Treasury Secretary Scott Bessent signaled that he expects Tokyo and the Bank of Japan to support the falling yen.