Japan 10-year government bond yield hits 2.41% highest since 1999
Business
Japan's 10-year government bond yield just shot up to 2.41%, the highest it's been since 1999.
This move could shake things up globally, especially for India.
Higher Japanese yields might tempt big investors to pull money out of Indian stocks and send it back to Japan, which could mean more volatility for both the Indian stock market and the rupee.
Japanese banks pension funds face losses
Japanese banks and pension funds are feeling the heat too: they hold massive amounts of these bonds, so rising yields can mean huge losses for them.
Plus, global markets are reacting: we're seeing drops in gold and silver prices as investors rethink where to put their money.
Everyone's watching Japan right now, since what happens there could ripple across markets worldwide.