Japan’s 40-Year Yield Rises to Record as Ishiba’s Support Falls

Concerns about slumping support for Prime Minister Shigeru Ishiba’s administration added to pressure on Japanese government bonds on Monday, helping send the 40-year yield briefly to an all-time high of 3%.

With speculation that policymakers may loosen fiscal discipline to increase spending before elections, the 40-year yield briefly rose to the highest since the bond’s issuance in 2007. Meanwhile, 30-year yields hit 2.63%, a level last seen in 2006.