Japan's 30-year yield hits 21-year high as bonds sell off

Japan's 30-year bond yield rose to a 21-year high on Wednesday as investors sold the most liquid bonds to raise cash amid a market rout triggered by US trade tariffs. Yields on 30-year Japanese bonds rose as high as 2.785 per cent, the highest since August 2004, and rose 22 basis points to 2.715 per cent on the day as stocks and oil prices plunged. "Yields on ultra-long bonds have risen to more than they were before Trump announced the tariffs, which is like panic selling," said Katsutoshi Inaru, senior strategist at Sumitomo Mitsui Trust Asset Management. The Bank of Japan, the Ministry of Finance and the Financial Services Agency will hold a meeting of senior officials from 15:00 Beijing time to discuss the financial marekt issue. (Jin Ten)