Japan 10-year yield hits 30-year high

BREAKING: Japan’s 10-year yield has climbed to its highest level in 30 years.
That is a major shift for one of the world’s most important bond markets.
For decades, Japan was defined by ultra-low yields and central bank control.
Now the long end is starting to price a very different environment.
Higher Japanese yields can pressure global bond markets, the yen, and carry trades that were built around cheap Japanese funding.
For $JGB and $JPY, this is a rates move with global implications.