The yield on Japan 10Y Bond Yield eased to 1.40% on July 1, 2025, marking a 0.04 percentage point decrease from the previous session. Over the past month, the yield has fallen by 0.11 points, though it remains 0.31 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Japan 10 Year Government Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

Graph and download economic data for Interest Rates: Long-Term Government Bond Yields: 10-Year: Main (Including Benchmark) for Japan (IRLTLT01JPM156N) from Jan 1989 to May 2025 about long-term, 10-year, Japan, bonds, yield, government, interest rate, interest, and rate.

The average yearly yield of Japanese 10-year government bonds has shown a significant downward trend from 1990 to 2019. Starting at seven percent in 1990, yields steadily declined, with slight fluctuations, reaching a low of -0.11 percent in 2019. After 2019, yields began to rise again, reflecting recent increases in interest rates and inflation expectations.

In 2024, the average yield on 10-year government bonds in Japan was *** percent. In 2019, the yield on 10-year government bonds issued by the Japanese government turned negative for the second time since 1995.

Graph and download economic data for Interest Rates: Long-Term Government Bond Yields: 10-Year: Main (Including Benchmark) for Japan (IRLTLT01JPQ156N) from Q1 1989 to Q1 2025 about long-term, 10-year, Japan, bonds, yield, government, interest rate, interest, and rate.

OECD Data Filters: REF_AREA: JPN MEASURE: IRLT UNIT_MEASURE: PA ACTIVITY: _Z ADJUSTMENT: _Z TRANSFORMATION: _Z FREQ: A

All OECD data should be cited as follows: OECD (year), (dataset name), (data source) DOI or https://data-explorer.oecd.org/ (https://data-explorer.oecd.org/). (accessed on (date)).

The yield on Japan 5 Year Bond Yield rose to 0.99% on June 30, 2025, marking a 0 percentage point increase from the previous session. Over the past month, the yield has fallen by 0.05 points, though it remains 0.39 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Japan 5 Year Note Yield - values, historical data, forecasts and news - updated on June of 2025.

The yield on Japan 2 Year Bond Yield rose to 0.75% on July 1, 2025, marking a 0 percentage point increase from the previous session. Over the past month, the yield has fallen by 0 points, though it remains 0.38 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Japan 2 Year Government Bond Yield - values, historical data, forecasts and news - updated on July of 2025.

In 2024, long-term government bond yields in Japan stood at **** percent. The yield on long-term government bonds with a residual maturity of around 10 years rose from **** percent in 2023.

In March 2025, the average yield on ten-year government bonds in the United States was 4.27 percent. This was the highest of the selected developed economies considered in this statistic. Except Germany, Luxembourg, and Japan, all countries had a yield higher than three on their government bonds. Bonds and yields – additional information The bond yield indicates the level of return that the investor can expect from a given type of bond. The government of Italy, for instance, offered the investors 3.9 percent yield on ten-year government bonds for borrowing their money in March 2025. In the United States, government needs are also financed by selling various debt instruments such as Treasury bills, notes, bonds and savings bonds to investors. The largest holders of U.S. debt are the Federal Reserve and Government accounts in the United States. The major foreign holders of the United States treasury securities are Japan, Mainland China, and the United Kingdom.

As of December 2024, the countries with the highest 10-year yields are the United Kingdom, the United States and Australia with 4.68, 4.38 and 4.21 percent, respectively. Of the largest economies by GDP, the United States saw the sharpest fall in absolute terms for 10-year government bond yields due to the coronavirus (COVID-19) pandemic. From a level of 1.51 percent in January 2020, yields on 10-year government bonds fell to 0.65 percent by April 2020, and had further fallen to 0.53 percent by July 2020 before starting to recover towards the end of the year. Conversely, countries that went into 2020 with already low bond yields like Japan, Germany and France actually saw a small increase in March 2020 - although these already low yields mean that these small changes are significant in relative terms.

Key information about Japan Long Term Interest Rate

• Japan Bonds Yield: Government Bonds: Newly Issued: 10 Years: Month End was reported at 1.37 % pa in Feb 2025, compared with 1.24 % pa in the previous month.
• Japan Long Term Interest Rate data is updated monthly, available from Dec 1998 to Feb 2025.
• The data reached an all-time high of 2.10 % pa in Jan 1999 and a record low of -0.28 % pa in Aug 2019.
• Long Term Interest Rate is reported by reported by Bank of Japan.

• In the latest reports, Japan Short Term Interest Rate: Month End: TIBOR: Japanese Yen: 3 Months was reported at 0.79 % pa in Feb 2025.
• The cash rate (Policy Rate: Month End: Japan: Complementary Deposit Facility Interest Rate) was set at -0.10 % pa in Jun 2023.
• Japan Exchange Rate against USD averaged 141.36 (USD/JPY) in Jun 2023.

In January 2020, prior to the onset of the global coronavirus (COVID-19) pandemic, three of the seven largest economies by GDP had negative yields for two-year government bonds (Japan, Germany and France). With the onset of the pandemic, two-year bond yields in these countries actually rose slightly - in contrast to the other major economies, where yields fell over this period. As of December 2024, yields for two-year government bonds exhibited fluctuations across all countries. Notably, Japan showed a slight upward trend, while China experienced a modest decline.Negative yields assume that investors lack confidence in economic growth, meaning many investments (such as stocks) may lose value. Therefore, it is preferable to take a small loss on government debt that carries almost no risk to the investor, than risk a larger loss on other investments. As both the yen and euro are considered very safe assets, Japanese, German and French bonds were already being held by many investors prior to the pandemic as a hedge against economic downturn. Therefore, with the announcement of fiscal responses to the pandemic by many governments around March 2020, the value of these assets rose as confidence increased (slightly) that the worst case may be avoided. At the same time, yields on bonds with a higher return fell, as investors sought out investments with a higher return that were still considered safe.

As of December 2024, Japan held United States treasury securities totaling about 1.06 trillion U.S. dollars. Foreign holders of United States treasury debt According to the Federal Reserve and U.S. Department of the Treasury, foreign countries held a total of 8.5 trillion U.S. dollars in U.S. treasury securities as of December 2024. Of the total held by foreign countries, Japan and Mainland China held the greatest portions, with China holding 759 billion U.S. dollars in U.S. securities. The U.S. public debt In 2023, the United States had a total public national debt of 33.2 trillion U.S. dollars, an amount that has been rising steadily, particularly since 2008. In 2023, the total interest expense on debt held by the public of the United States reached 678 billion U.S. dollars, while 197 billion U.S. dollars in interest expense were intra governmental debt holdings. Total outlays of the U.S. government were 6.1 trillion U.S. dollars in 2023. By 2029, spending is projected to reach 8.3 trillion U.S. dollars.

Japan Industry: NM: 10mn to 100mn: NA: SE: Treasury Stock data was reported at -2,299.138 JPY bn in Mar 2018. This records an increase from the previous number of -2,611.059 JPY bn for Dec 2017. Japan Industry: NM: 10mn to 100mn: NA: SE: Treasury Stock data is updated quarterly, averaging -1,579.070 JPY bn from Jun 2004 (Median) to Mar 2018, with 56 observations. The data reached an all-time high of -405.066 JPY bn in Mar 2005 and a record low of -3,635.523 JPY bn in Mar 2015. Japan Industry: NM: 10mn to 100mn: NA: SE: Treasury Stock data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Japan – Table JP.S052: Financial Statements of Corporation: Industry: Non Manufacturing: 10 Million to 100 Million.

Japan Industry: Mfg: 10mn to 100mn: NA: SE: Treasury Stock data was reported at -526.918 JPY bn in Mar 2018. This records a decrease from the previous number of -513.188 JPY bn for Dec 2017. Japan Industry: Mfg: 10mn to 100mn: NA: SE: Treasury Stock data is updated quarterly, averaging -496.661 JPY bn from Jun 2004 (Median) to Mar 2018, with 56 observations. The data reached an all-time high of -58.115 JPY bn in Sep 2004 and a record low of -2,276.979 JPY bn in Dec 2004. Japan Industry: Mfg: 10mn to 100mn: NA: SE: Treasury Stock data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Japan – Table JP.S048: Financial Statements of Corporation: Industry: Manufacturing: 10 Million to 100 Million.

In 2023, China held **** percent of foreign held U.S. securities. Japan held a further **** percent of foreign held securities. The national debt of the United Stated can be found here.

短期国库券：率：六个月在10-01-2018达-0.210年利率%，相较于09-01-2018的-0.150年利率%有所下降。短期国库券：率：六个月数据按月更新，11-01-2000至10-01-2018期间平均值为0.040年利率%，共204份观测结果。该数据的历史最高值出现于07-01-2007，达0.700年利率%，而历史最低值则出现于09-01-2016，为-0.324年利率%。CEIC提供的短期国库券：率：六个月数据处于定期更新的状态，数据来源于日本銀行，数据归类于Global Database的日本 – 表 JP.M006：账单：率。

大和证券指数：政府债券：1至3年在10-01-2018达295.917NA，相较于09-01-2018的295.834NA有所增长。大和证券指数：政府债券：1至3年数据按月更新，03-01-1999至10-01-2018期间平均值为290.204NA，共236份观测结果。该数据的历史最高值出现于06-01-2016，达297.885NA，而历史最低值则出现于06-01-1999，为273.531NA。CEIC提供的大和证券指数：政府债券：1至3年数据处于定期更新的状态，数据来源于株式会社　大和総研，数据归类于Global Database的日本 – 表 JP.Z020：大和证券指数。