Government bond yield · Japan
Japan 20-Year JGB Auction
The Japan 20-Year JGB Auction is the yield on Japan's government debt of that maturity: the annual return an investor earns by buying the bond or bill at today's price and holding it to maturity.
- Важность
- Low
- Опубликовано
- Monthly
- Следующая публикация
- Валюта
- JPY · Japanese yen
- Центральный банк
- The Bank of Japan
Последние данные
Последняя публикация вышла 2026-10-20; значение: 3.723%. Это ниже, чем 3.856% в прошлый раз.
За последние 12 публикаций значение колебалось от 2.809% до 3.856%, в среднем 3.381%.
| Опубликовано | Для | Факт | Консенсус | Предыдущее |
|---|---|---|---|---|
| 20 Oct 2026 | – | 3.723% | – | 3.856% |
| 15 Sep 2026 | – | 3.856% | – | 3.698% |
| 20 Aug 2026 | – | 3.698% | – | 3.626% |
| 14 Jul 2026 | – | 3.626% | – | 3.542% |
| 25 Jun 2026 | – | 3.542% | – | 3.711% |
| 20 May 2026 | – | 3.711% | – | 3.327% |
| 14 Apr 2026 | – | 3.327% | – | 3.141% |
| 17 Mar 2026 | – | 3.141% | – | 2.968% |
| 19 Feb 2026 | – | 2.968% | – | 3.253% |
| 20 Jan 2026 | – | 3.253% | – | 2.916% |
| 11 Dec 2025 | – | 2.916% | – | 2.809% |
| 19 Nov 2025 | – | 2.809% | – | 2.674% |
Почему это важно
Government yields are the base of every other interest rate. Short maturities follow the Bank of Japan's policy rate closely; long ones reflect expected growth, inflation and the risk of holding long debt. Higher yields relative to other countries attract capital and support the Japanese yen; the gap between long and short yields (the yield curve) is a classic recession signal when it turns negative.
Как считается
The yield is the interest rate that makes the present value of the bond's coupons and repayment equal to its price; on a calendar it often reports the average yield at a government auction.
Price = Σ coupon ÷ (1 + y)ᵗ + face ÷ (1 + y)ᵀ
Inflation-linked (TIPS) yield ≈ nominal yield − expected inflationЧто означают изменения
- Yields rise when prices of bonds fall: strong data and hawkish central banks push yields up.
- An inverted curve (2-year above 10-year) has preceded most US recessions, with a lag of a year or more.
- Inflation-linked yields show the real (after-inflation) return.
Краткая история
Government bond markets go back to the Dutch and English debt of the 17th century; the US Treasury yield curve has been watched as a recession signal since research by Campbell Harvey in the 1980s.
Вопросы
What is the Japan 20-Year JGB Auction?
The Japan 20-Year JGB Auction is the yield on Japan's government debt of that maturity: the annual return an investor earns by buying the bond or bill at today's price and holding it to maturity.
What was the latest Japan 20-Year JGB Auction?
3.723%, published on 20 October 2026.
When is the next Japan 20-Year JGB Auction?
On Wednesday 18 November 2026 at 03:35 UTC.
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