Japan’s $7.3 trillion JGB rout erases $41 billion as long‑term yields surge past 4%

Japan’s $7.3 trillion government bond market suffered a sharp selloff that erased about $41 billion in one session and drove long‑term yields above 4%. The 30‑year JGB yield jumped by more than a quarter percentage point in a day, while election plans, higher inflation and fresh fiscal stimulus under Prime Minister Takaichi Sanae added pressure to bonds and the yen. Rising Japanese yields are unsettling global markets as carry trades unwind and investors reassess foreign and domestic bond exposure.