Japan's 10-year bond yield hits highest since 1996 at 3.095%
Business
Japan's 10-year government bond yield just shot up to levels not seen since August 1996, with the 10-year yield hitting 3.095%.
This jump is mostly because of persistent inflation pressures and expectations of further monetary policy tightening.
Japan's services inflation boosts rate expectations
Prices for services in Japan are rising at their fastest pace in over two years, making investors think interest rate hikes could be coming soon.
Some central bank officials are even pushing for faster action on rates.
With big bond auctions and possible changes from Japan's Ministry of Finance ahead, everyone's watching to see how these moves could shake up the economy next.