Japan's 10-year government bond yield surges to a new high since 1996 as a global bond selloff sweeps through Tokyo.

After Japan's Silver Week holiday ended and the market reopened, the yield on Japan's 10-year government bonds surged to its highest level since 1996, catching up with the intensifying global bond selloff. After three days of closure, the 10-year yield rose 10 basis points on Thursday to 3.075%. Yields across all maturities also climbed broadly, with the 5-year government bond yield rising 9.5 basis points to 2.37%.