Japan Finance Ministry Raises 10-Year JGB Coupon Rate to 3.1%

TOKYO — Japan's Ministry of Finance on Tuesday raised the coupon rate for its newly issued 10-year government bonds to 3.1%, the highest level in about 30 years.

According to the ministry, the move reflects the recent rise in long-term interest rates in the bond market.

It marks the first time the coupon rate on 10-year government bonds has been lifted to 3.1%, the highest in roughly three decades, as the Japanese government's long-term borrowing costs continue to face upward pressure.