Global Market: Japan bond yields hit 3% for first time in 30 years amid inflation, fiscal risks

Japan’s benchmark government bond yield hit 3% on Tuesday for the first time since September 1996, marking a major shift for a market long defined by ultra-low rates. Rising inflation concerns, fiscal risks, a weak yen and expectations of further Bank of Japan tightening are driving the selloff, while reduced central-bank support adds to pressure on JGB yields.