Government bond yield · Japan
Japan 40-Year JGB Auction
The Japan 40-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
- Quarterly
- Следующая публикация
- Валюта
- JPY · Japanese yen
- Центральный банк
- The Bank of Japan
Последние данные
Последняя публикация вышла 2026-09-29; значение: 4.125%. Это выше, чем 3.865% в прошлый раз.
За последние 10 публикаций значение колебалось от 2.570% до 4.125%, в среднем 3.393%. Показатель рос три публикации подряд.
| Опубликовано | Для | Факт | Консенсус | Предыдущее |
|---|---|---|---|---|
| 29 Sep 2026 | – | 4.125% | – | 3.865% |
| 27 May 2026 | – | 3.840% | – | 3.600% |
| 24 Mar 2026 | – | 3.600% | – | 3.720% |
| 28 Jan 2026 | – | 3.720% | – | 3.555% |
| 26 Nov 2025 | – | 3.555% | – | 3.300% |
| 25 Sep 2025 | – | 3.300% | – | 3.375% |
| 23 Jul 2025 | – | 3.375% | – | 3.135% |
| 28 May 2025 | – | 3.135% | – | 2.710% |
| 27 Mar 2025 | – | 2.710% | – | 2.570% |
| 21 Jan 2025 | – | 2.570% | – | 2.550% |
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 40-Year JGB Auction?
The Japan 40-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 40-Year JGB Auction?
4.125%, published on 29 September 2026.
When is the next Japan 40-Year JGB Auction?
On Wednesday 25 November 2026 at 03:35 UTC.
Только образовательный материал, не инвестиционная рекомендация. Цифры — опубликованные результаты в том виде, в каком их записал наш календарь; описанные реакции рынка типичны, но не гарантированы.