Japan 40-Year JGB Hits Record 4.04%: Why It Matters Globally
Japan’s 40-year government bond yield hit an all-time high of 4.04% on May 19. Inside the JGB rout — the data, drivers, and global ripple effects.
Japan’s 40-year government bond yield hit an all-time high of 4.04% on May 19. Inside the JGB rout — the data, drivers, and global ripple effects.
The widest policy-rate gap between Washington and Tokyo since the 1990s is keeping the yen on the back foot. Here is what the May 2026 capital markets picture looks like.