Japan Sets 10-Year Bond Coupon at 3.1%, Highest in About 30 Years

Japan's new 10-year government bond coupon has reached 3.1%, its highest level in roughly three decades.
Five years ago, the coupon was just 0.1%, highlighting the dramatic repricing of Japanese borrowing costs as yields move higher.
Japan is selling roughly ¥2.6 trillion of the new 10-year bonds, putting investor demand for government debt back in focus as the country's rate environment continues to normalize.