Japan’s Bond Market: Understanding Historic Volatility

Japan's bond market is seeing historic volatility.

The 10Y Japanese government bond yield dropped -16 basis points on Friday, to 2.71%, the largest daily decline since April 2025.

This follows a rise to 2.90% on Thursday, the first time the 10Y JGB yield reached that level in… pic.twitter.com/yXn40Z2cvK

— The Kobeissi Letter (@KobeissiLetter) July 12, 2026