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Japan's Bond Yields Hit 30-Year High, Urgent Reforms Needed

11/23/2025

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Summary

Story summary

Japan's 30-year government bond yield rose to 3.3%, highest in decades, signaling unsustainable growth without structural reform.
The Bank of Japan (BOJ) has begun reducing bond purchases, a move that could push yields higher.
Banks and insurers, constrained by risk rules, hesitate to fill the funding gap left by the BOJ.
To boost growth, Japan must pursue fiscal expansion and structural reforms, including immigration and supporting women in work.

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Story summary

Japan's 30-year government bond yield rose to 3.3%, highest in decades, signaling unsustainable growth without structural reform.
The Bank of Japan (BOJ) has begun reducing bond purchases, a move that could push yields higher.
Banks and insurers, constrained by risk rules, hesitate to fill the funding gap left by the BOJ.
To boost growth, Japan must pursue fiscal expansion and structural reforms, including immigration and supporting women in work.