Home » Crypto Market News » Japan’s 10Y Bond Yield Hits 3%. Why Bitcoin Should Pay Attention  Japan’s benchmark JGB yield reached its highest level since 1996, raising fears of a global yen carry trade unwind. Japan’s 10-year Japanese Government Bond (JGB) yield reached 3.00% on September 1, its highest level since 1996, as investors demanded higher returns amid inflation, fiscal concerns, and expectations for further Bank of Japan (BOJ) tightening.