Japan 10-Year Government Bond Yield
The par yield on 10-year Japanese government bonds from the Ministry of Finance's daily reference curve, the benchmark long-term rate for the world's largest bond market outside the US and euro area. Daily since July 1986; the Bank of Japan's yield-curve control (2016–2024) pinned it near zero, and its release is the defining rates story of the mid-2020s.
Japan 10-year yield (%)
- 1-year change (pp)
- +1.43 pp
Latest reading
As of October 7, 2026, the Japan 10-year government bond yield is 3.11% — 4.99 pp below the September 28, 1990 record of 8.11%. The prior reading was 3.10%. For most of the 2010s this yield read as a policy setting rather than a market price. Its climb since 2022 — through 1%, then 2%, then toward levels last seen in the mid-1990s — is the market pricing the end of Japan's deflation era, and it matters globally: Japanese institutions are among the largest holders of foreign bonds, and a higher home yield changes that calculus. Compare its level with the US and Germany on the global page; compare its rank with its own history here. Series history runs from 1986 to present.
Sources, methodology & freshnessJapan Ministry of Finance, JGB interest rates (10Y par yield), daily; OECD long-term rate via FRED (IRLTLT01JPM156N) for context · Daily, with every releaseData as of 2026-10-07 · Open ↓Close ↑
Full history
Yield (%)
1-year change
The yield minus its level one year earlier, in percentage points — the pace of repricing rather than the level.
Methodology & data
Japan 10Y is sourced from MOF Japan via the Federal Reserve's FRED service (Japan Ministry of Finance, JGB interest rates (10Y par yield), daily; OECD long-term rate via FRED (IRLTLT01JPM156N) for context). We pull the complete history, chart it on a daily basis, overlay SPY for context, and generate a dated plain-English reading from the latest release — with no smoothing or adjustment beyond what the chart legend states.
Readings are dated by the period they cover. Latest observation 2026-10-07; site refreshed 2026-10-08. Maintained and reviewed by Yuriy Matso; see our methodology for the standards every series on the site is held to.
Frequently asked questions
What is the Japan 10-Year Government Bond Yield?
The par yield on 10-year Japanese government bonds from the Ministry of Finance's daily reference curve, the benchmark long-term rate for the world's largest bond market outside the US and euro area. Daily since July 1986; the Bank of Japan's yield-curve control (2016–2024) pinned it near zero, and its release is the defining rates story of the mid-2020s.
How do you read Japan 10Y?
For most of the 2010s this yield read as a policy setting rather than a market price. Its climb since 2022 — through 1%, then 2%, then toward levels last seen in the mid-1990s — is the market pricing the end of Japan's deflation era, and it matters globally: Japanese institutions are among the largest holders of foreign bonds, and a higher home yield changes that calculus. Compare its level with the US and Germany on the global page; compare its rank with its own history here.
Where does the Japan 10Y data come from?
Japan Ministry of Finance, JGB interest rates (10Y par yield), daily; OECD long-term rate via FRED (IRLTLT01JPM156N) for context. We chart the full history and publish a dated, plain-English reading with every release; the raw series is downloadable as CSV at /data/indicators/japan-10-year-yield.csv.
How often is Japan 10Y updated?
Japan 10Y is a daily series from MOF Japan, refreshed here as soon as a new release posts to FRED.
Japan 10-year yield (%)
- 1-year change (pp)
- +1.43 pp