Japan 10Y Bond Yield was 1.59 percent on Thursday March 27, 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 March of 2025.

Key information about Japan Short Term Government Bond Yield

• Japan Short Term Government Bond Yield: Daily: Japan: 1 Year was reported at 0.62 % pa in Mar 2025, compared with 0.62 % pa in the previous day.
• Japan Short Term Government Bond Yield data is updated daily, available from Sep 1974 to Mar 2025.
• The data reached an all-time high of 0.64 % pa in Mar 2025 and a record low of -0.37 % pa in Jul 2016.
• Short Term Government Bond Yield is reported by CEIC Data.

The Ministry of Finance provides daily Short Term Government Bond Yield.

Japan 2 Year Bond Yield was 0.89 percent on Thursday March 27, 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 March of 2025.

Japan Ref Stat Prices (Yields): Corporate Bonds >4 yrs & <5 yrs:BBB-rated data was reported at 0.378 % pa in Sep 2018. This records a decrease from the previous number of 0.383 % pa for Aug 2018. Japan Ref Stat Prices (Yields): Corporate Bonds >4 yrs & <5 yrs:BBB-rated data is updated monthly, averaging 0.632 % pa from Oct 2013 (Median) to Sep 2018, with 60 observations. The data reached an all-time high of 1.934 % pa in Nov 2013 and a record low of 0.377 % pa in Jun 2018. Japan Ref Stat Prices (Yields): Corporate Bonds >4 yrs & <5 yrs:BBB-rated data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.M007: Bonds: Yield.

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.

Japan 5 Year Bond Yield was 1.19 percent on Wednesday March 26, 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 March of 2025.

In August 2024, the average yield on ten-year government bonds in the United States was equal to 3.87 percent. This was the highest of the selected developed economies considered in this statistic. The countries with the lowest yield were Germany and Japan, with 2.24 and 0.88 percent respectively. 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 3.63 percent yield on ten-year government bonds for borrowing their money in August 2024. 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 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.

Japan Bonds Yield: Government Bonds: Newly Issued: 20 Years data was reported at 0.645 % pa in Oct 2018. This records a decrease from the previous number of 0.655 % pa for Sep 2018. Japan Bonds Yield: Government Bonds: Newly Issued: 20 Years data is updated monthly, averaging 0.645 % pa from Oct 2013 (Median) to Oct 2018, with 61 observations. The data reached an all-time high of 1.580 % pa in Dec 2013 and a record low of 0.065 % pa in Jun 2016. Japan Bonds Yield: Government Bonds: Newly Issued: 20 Years data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.M007: Bonds: Yield.

Japan JP: Long-Term Interest Rate: Government Bonds data was reported at 1.845 % in 2026. This records an increase from the previous number of 1.345 % for 2025. Japan JP: Long-Term Interest Rate: Government Bonds data is updated yearly, averaging 3.029 % from Dec 1966 (Median) to 2026, with 61 observations. The data reached an all-time high of 8.871 % in 1980 and a record low of -0.098 % in 2019. Japan JP: Long-Term Interest Rate: Government Bonds data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.EO: Interest Rate: Forecast: OECD Member: Annual. IRL - Long-term interest rate on government bonds; Data refer to Japan Benchmark Bond - Redemption Yield 10 Years. Break in December 1998; pre-1998 refer to interest bearing government bonds (10 Years)

The interest rate on newly issued 10-year Japanese Government Bonds (JGBs) in October 2024 was 0.95 percent. The highest interest rate since January 2020 was recorded two months earlier.

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.

Data refers to yield of newly issued 10-year Japanese Government Bond yield. Yield figures before November 2014 are rates on the latest transaction. Yield figures from November 2014 onwards are rates based on JGB closing prices.


Related information about Japan Long Term Interest Rate

• 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.

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. As of December 2024, the countries with the highest 10-year yields are the United Kingdom, the United States and Australia with 4.66, 4.54 and 4.46 percent, respectively.

Japan Bonds Yield: Government Bonds: Newly Issued: 5 Years data was reported at -0.085 % pa in Oct 2018. This records a decrease from the previous number of -0.075 % pa for Sep 2018. Japan Bonds Yield: Government Bonds: Newly Issued: 5 Years data is updated monthly, averaging -0.075 % pa from Oct 2013 (Median) to Oct 2018, with 61 observations. The data reached an all-time high of 0.235 % pa in Dec 2013 and a record low of -0.315 % pa in Jun 2016. Japan Bonds Yield: Government Bonds: Newly Issued: 5 Years data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.M007: Bonds: Yield.

Japan JP: Long-Term Interest Rate: Government Bonds: Single Hit Scenario data was reported at 0.000 % in 2021. This stayed constant from the previous number of 0.000 % for 2020. Japan JP: Long-Term Interest Rate: Government Bonds: Single Hit Scenario data is updated yearly, averaging 4.183 % from Dec 1967 (Median) to 2021, with 55 observations. The data reached an all-time high of 8.871 % in 1980 and a record low of -0.098 % in 2019. Japan JP: Long-Term Interest Rate: Government Bonds: Single Hit Scenario data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.EO: Interest Rate: Forecast: OECD Member: Annual. IRL - Long-term interest rate on government bonds; Data refer to Japan Benchmark Bond - Redemption Yield 10 Years. Break in December 1998; pre-1998 refer to interest bearing government bonds (10 Years)

The interest rate on newly issued 10-year Japanese Government Bonds (JGBs) in March 2025 was around 1.21 percent. This was the highest interest rate recorded since January 2020.

Japan LDI: Newly Issued Government Bonds Yield: 10 Year data was reported at 0.130 % pa in Sep 2018. This records an increase from the previous number of 0.110 % pa for Aug 2018. Japan LDI: Newly Issued Government Bonds Yield: 10 Year data is updated monthly, averaging 2.760 % pa from Jan 1975 (Median) to Sep 2018, with 525 observations. The data reached an all-time high of 11.050 % pa in Jan 1975 and a record low of -0.230 % pa in Jun 2016. Japan LDI: Newly Issued Government Bonds Yield: 10 Year data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Japan – Table JP.S001: Leading Indicators: 2015=100.

Japan Govt Securities: Issue: Interest Bearing Medium Term Govt Bonds data was reported at 4,177.700 JPY bn in Jun 2018. This records a decrease from the previous number of 4,625.900 JPY bn for May 2018. Japan Govt Securities: Issue: Interest Bearing Medium Term Govt Bonds data is updated monthly, averaging 2,536.600 JPY bn from Sep 1982 (Median) to Jun 2018, with 430 observations. The data reached an all-time high of 6,498.400 JPY bn in Jan 2005 and a record low of 0.000 JPY bn in Mar 1993. Japan Govt Securities: Issue: Interest Bearing Medium Term Govt Bonds data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.Z023: Government Securities: Issue, Redemption and Outstanding Amount.

Japan Govt Securities: RE: Interest Bearing Long Term Govt Bonds data was reported at 8,079.200 JPY bn in Jun 2018. This records an increase from the previous number of 183.800 JPY bn for May 2018. Japan Govt Securities: RE: Interest Bearing Long Term Govt Bonds data is updated monthly, averaging 162.800 JPY bn from Sep 1982 (Median) to Jun 2018, with 430 observations. The data reached an all-time high of 12,152.300 JPY bn in Mar 2009 and a record low of 0.000 JPY bn in Feb 2011. Japan Govt Securities: RE: Interest Bearing Long Term Govt Bonds data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.Z023: Government Securities: Issue, Redemption and Outstanding Amount.

Key information about Japan Policy Rate

• Japan cash rate (Policy Rate: Month End: Japan: Complementary Deposit Facility Interest Rate) was set at -0.10 % pa in Jun 2023, compared with -0.10 % pa in the previous May 2023.
• Japan Policy Rate averaged -0.10 % pa and is updated monthly, available from Nov 2008 to Jun 2023.
• The data reached an all-time high of 0.10 % pa in Jan 2016 and a record low of -0.10 % pa in Jun 2023.

As of April 2013, Bank of Japan has switched to the amount of monetary base as its main operating tool. Under this arrangement, the Complementary Deposit Facility Interest Rate can be used as an indication of monetary policy. It represents the interest paid on excess reserve balances (balances held at the account with the Bank of Japan in excess of required reserves under the reserve deposit requirement system).


Related information about Japan Policy Rate

• In the latest reports, Japan Short Term Interest Rate: Month End: TIBOR: Japanese Yen: 3 Months was reported at 0.07 % pa in Jun 2023.
• Its Long Term Interest Rate (Bonds Yield: Government Bonds: Newly Issued: 10 Years: Month End) was reported at 0.43 % pa in May 2023.
• Japan Exchange Rate against USD averaged 137.05 (USD/JPY) in May 2023.
• Its Real Effective Exchange Rate was 59.46 in May 2023.

Japan Govt Securities: RE: Interest Bearing Super LongTerm Govt Bonds data was reported at 0.000 JPY bn in Jun 2018. This records a decrease from the previous number of 601.800 JPY bn for May 2018. Japan Govt Securities: RE: Interest Bearing Super LongTerm Govt Bonds data is updated monthly, averaging 0.000 JPY bn from Feb 1983 (Median) to Jun 2018, with 425 observations. The data reached an all-time high of 2,408.200 JPY bn in Mar 2008 and a record low of 0.000 JPY bn in Jun 2018. Japan Govt Securities: RE: Interest Bearing Super LongTerm Govt Bonds data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.Z023: Government Securities: Issue, Redemption and Outstanding Amount.