Japan's 10-year bond yield hits 30-year high after surge in US Treasurys

On Thursday, Japan's 10-year government bond yield rose 8 basis points to 3.055%, a 30-year high and the highest since August 1996, while the 30-year yield gained nearly 7 bps to 4.134%. The sell-off followed a surge in US Treasury yields, including a 19-year high on the 10-year, driven by rebounding oil prices, strong US PMI data and weak demand at a $70 billion five-year Treasury auction.