Japan
The JGB Rebellion: 40-Year Yields Breach 4.20% as 'Sanaenomics' Jolts Global Markets
TOKYO – The bedrock of the global financial system is shifting. On January 23, 2026, the Japanese government bond (JGB) market—long a bastion of low volatility and near-zero rates—is grappling with a historic "market rebellion." The yield on the benchmark 40-year JGB surged to 4.24% this