Japanese bond yields hit 16-year high

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Japan’s 10-year borrowing costs rose to a 16-year high on Thursday as Tokyo joined a global bond sell-off sparked by Germany’s decision to spend more on defence.

The yield on the 10-year Japanese government bond rose 0.06 percentage points to 1.5 per cent, its highest level since 2009. The JGB has risen almost 0.4 percentage points since the start of 2025.

Germany…