Japan 10-Year Government Bond Yield
Long-term (10-year) Japanese government bond yield, from the OECD Main Economic Indicators.
3.05
Percent
Japan 10-Year Government Bond Yield — latest reading: 3.05 percent. As of September 2026, it is up 85.4% over the past 12 months, well above its 10-year average. Source: IRLTLT01JPM156N, OECD, published monthly. Reported as published, without transformation; the publisher may revise it. Higher than all but 86 of 453 readings since 1989-01-01. Last at or above this level on 1996-08-01.
Min
-0.28
Max
8.03
Average
1.82
10Y Percentile
100%
3M Change
+14.2%
Japan 10-Year Government Bond Yield (IRLTLT01JPM156N) — 453 observations from 1989-01-01 to 2026-09-01. Source: FRED, Federal Reserve Bank of St. Louis. Red shading indicates NBER recession periods.
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Macro Regime Context
The financial-conditions regime is currently neutral (97% confidence).
See what this means across all four regime dimensions →3-Month
+14.2%
6-Month
+30.1%
12-Month
+85.4%
What this means
Japan 10-Year Government Bond Yield is currently at 3.05 percent, which is well above its 10-year historical average. The trend is increasing (+14.2% over the past 3 months).
Over the past 6 months the change is +30.1%, and over 12 months it is +85.4%. The short-term pace is consistent with the longer trend.
Frequently Asked Questions
What is the Japan 10-year JGB yield?
The JGB yield is the annual return on a 10-year Japanese government bond. For much of the past three decades it has been the lowest long-term yield among major economies, held near zero for years under the Bank of Japan's yield curve control policy.
Why do Japanese yields matter for global markets?
Japan is one of the world's largest creditor nations, and decades of low domestic yields pushed Japanese institutions into foreign bonds, including US Treasuries. Historically, rises in JGB yields have coincided with repatriation flows and upward pressure on long-term yields elsewhere.
How often is this series updated?
This series is a monthly average of daily JGB yields, compiled in the OECD Main Economic Indicators and sourced here from FRED. This page updates with each new monthly value.
Cite this page
MacroRadar, "Japan 10-Year Government Bond Yield," https://www.macroradar.io/japan-10-year-yield (as of September 2026).