TOKYO -- Japanese government bonds, particularly ultralong-term bonds, have seen prices drop going into the end of the fiscal year, as institutional investors with limits on risk shy away from a volatile corner of the market.
The yield on benchmark 10-year JGBs reached 1.575% on March 10, the highest in more than 16 years. While it has since settled back down, longer-term bonds have continued to face selling pressure, lifting the 30-year yield to 2.63% on Monday -- a level not seen since April 2006.
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