Japan 10-Year Government Bond Yield
Daily close, published with ~1 business day lag · yield, % per year
Official close for Thu, 22 Oct 2026
Japan 10-Year Government Bond Yield chart
Close 22 Oct 2026: 2.914%
Each point is one official daily close; weekends and market holidays have no value. There is no intraday data. Source: Ministry of Finance Japan.
Ranges and changes
- 52-week range (official daily closes)
- 1.654%3.111%
One basis point (bp) is 0.01 percentage point, so a move from 4.00% to 4.25% is +25 bp. Changes compare the latest official close with the official close on or before the same calendar date 1 week, 1, 3 and 6 months and 1 year earlier; year to date uses the last official close of the previous year.
Other government bond yields
All yields- US 2-Year Treasury YieldClose Fri, 23 Oct 20264.69%+4.0 bp
- US 5-Year Treasury YieldCboe index, delayed4.805%+3.7 bp
- US 10-Year Treasury YieldCboe index, delayed4.988%+3.5 bp
- US 30-Year Treasury YieldCboe index, delayed5.315%+2.8 bp
- UK 10-Year Gilt YieldEstimate Wed, 21 Oct 20265.334%-1.8 bp
- German 10-Year Bund YieldEstimate Fri, 23 Oct 20263.36%-6.0 bp
- Italy 10-Year BTP YieldSeptember 2026 average4.362%+37.6 bp
About the Japan 10-Year Government Bond Yield
The Japan 10-year government bond yield is the annual return on 10-year Japanese government bonds (JGBs), issued by Japan's Ministry of Finance. For several years the Bank of Japan held this yield in a narrow band near zero under its yield curve control policy; the BoJ ended that policy in March 2024, and the 10-year has since been set much more by the market.
Because of that history, the 10-year JGB is one of the main gauges of how far markets expect the Bank of Japan to normalise policy. It also matters well beyond Japan: the gap between US and Japanese yields is closely watched in USD/JPY, and Japanese investors are major holders of foreign bonds, so a rise in domestic yields can change where that money goes.
The figure on this page is the Ministry of Finance's own published 10-year JGB interest rate for each business day, from its JGB interest rate data files. The ministry posts each day's figures the following morning, Japan time, so it is an end-of-day figure, not an intraday quote.
- Security
- Japanese government bond (JGB), 10-year maturity
- Issuer
- Ministry of Finance Japan
- Data
- Ministry of Finance Japan, JGB interest rate (10-year)
- Updated
- Daily close, published the next morning in Japan
What moves the Japan 10-Year Government Bond Yield
- Bank of Japan policy decisions and the Governor's communication
- The pace of the Bank of Japan's JGB purchases
- Japanese inflation and wage growth
- Global yields, especially US Treasuries
Scheduled releases to watch: Bank of Japan Governor speeches, Japan GDP. See every upcoming release on the economic calendar.
Markets that react to this yield
- USD/JPY · Closely watched against the US-Japan yield gap
- AUD/JPY · A yen cross sensitive to rate gaps and risk sentiment
- Nikkei 225 · Japanese equities react to BoJ policy and the yen
Frequently asked questions
What is the latest Japan 10-year government bond yield?
This page shows the Ministry of Finance's most recent published 10-year JGB interest rate, the date it refers to, its change from the previous business day in basis points, the 52-week range and a daily chart. It is an official end-of-day figure, not a live market quote.
What was yield curve control?
Yield curve control was a Bank of Japan policy that capped the 10-year JGB yield around a target near zero, with the bank buying bonds in whatever amount was needed to defend it. The BoJ ended it in March 2024, which is why the 10-year yield now moves far more freely than it did for most of the previous decade.
How does the JGB yield affect USD/JPY?
USD/JPY is closely watched against the gap between US and Japanese yields. When Japanese yields rise relative to US yields, the gap narrows and that tends to support the yen; when the gap widens, it tends to weaken the yen. Intervention risk and global risk sentiment also move the pair.
Why do bond yields rise when bond prices fall?
A government bond pays a fixed coupon. If market rates rise, an existing bond's fixed payments are worth less, so its price falls until its yield matches the new market rate; when rates fall, the opposite happens. Yield and price therefore always move in opposite directions, and the longer the maturity, the larger the price move for the same change in yield.
For information and education only, not investment advice. Yields shown are official published statistics (daily closes), not a quote to buy or sell a bond. Source: Ministry of Finance Japan.