Japanese Government Bond (JGB) Yields
Fitted spot curve as of 2026-10-26
https://bondscovery.com/yield-curve/jgb
Japanese Government Bond (JGB) Yields as of 2026-10-26: 10Y at 2.85%, fitted curve 1M–40Y (1.27%–3.93%), 310 bonds. Live chart, constituents and forward rates on bondScovery.
Also quoted as JGB yields, JGB yield curve and Japan government bond yields. The curve below is fitted across 310 Japanese Government Bond (JGB) issues, from the shortest bill to the longest bond, and rebuilt with every daily build.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 1.27% | — |
| 3M | 1.33% | 1.36% |
| 6M | 1.45% | 1.57% |
| 9M | 1.56% | 1.88% |
| 12M | 1.66% | 1.88% |
| 18M | 1.77% | 2.00% |
| 2Y | 1.85% | 2.10% |
| 3Y | 1.99% | 2.29% |
| 4Y | 2.11% | 2.52% |
| 5Y | 2.22% | 2.71% |
| 6Y | 2.33% | 2.92% |
| 7Y | 2.44% | 3.21% |
| 8Y | 2.57% | 3.62% |
| 9Y | 2.71% | 4.06% |
| 10Y | 2.85% | 4.38% |
| 15Y | 3.36% | 4.80% |
| 20Y | 3.68% | 5.24% |
| 25Y | 3.93% | 5.90% |
| 30Y | 3.90% | 3.59% |
| 40Y | 3.88% | 3.78% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 1.85% and the 10-year 2.85%, a 10Y−2Y spread of +100 bp — positively sloped — as of 2026-10-26. The chart and table below track how they have moved.
Fitted 2Y and 10Y yields and their spread, sampled one build date per month. See all inverted curves today →
| Tenor | Latest2026-10-26 | 1m ago2026-09-25 | 2m ago2026-08-27 | 3m ago2026-07-28 | 4m ago2026-06-29 | 5m ago2026-05-29 | 6m ago2026-04-29 |
|---|---|---|---|---|---|---|---|
| 2Y | 1.85% | 1.88% | 1.68% | 1.50% | 1.39% | 1.33% | 1.35% |
| 10Y | 2.85% | 3.07% | 2.90% | 2.78% | 2.62% | 2.70% | 2.48% |
| 10Y − 2Y | +100 bp | +120 bp | +122 bp | +128 bp | +123 bp | +136 bp | +113 bp |
Bonds in this curve
A selection of 30 of the 310 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Japan | 1.31% | 2026-12-01 | 0.60% | JP1024671QC8 |
| Japan | 1.34% | 2026-12-20 | 0.01% | JP1051501N14 |
| Japan | 1.32% | 2027-01-01 | 0.60% | JP1024681R19 |
| Japan | 1.34% | 2027-02-01 | 0.70% | JP1024691R25 |
| Japan | 1.39% | 2027-03-20 | 0.01% | JP1051511N46 |
| Japan | 1.38% | 2027-03-20 | 0.10% | JP1051521N69 |
| Japan | 1.52% | 2027-06-20 | 0.01% | JP1051531N75 |
| Japan | 1.53% | 2027-06-20 | 0.10% | JP1103471H66 |
| Japan | 1.63% | 2027-09-20 | 0.10% | JP1051541NA0 |
| Japan | 1.63% | 2027-09-20 | 0.10% | JP1103481H98 |
| Japan | 1.73% | 2028-02-01 | 1.30% | JP1024811S29 |
| Japan | 1.75% | 2028-03-01 | 1.30% | JP1024821S35 |
| Japan | 1.85% | 2028-09-20 | 0.30% | JP1051621PA5 |
| Japan | 1.85% | 2028-09-20 | 0.40% | JP1051631PB2 |
| Japan | 1.92% | 2029-06-20 | 0.60% | JP1051701Q76 |
| Japan | 1.92% | 2029-06-20 | 0.40% | JP1051711Q82 |
| Japan | 2.07% | 2030-05-20 | 2.30% | JP1300031000 |
| Japan | 2.08% | 2030-06-20 | 1.00% | JP1051791R76 |
| Japan | 2.19% | 2031-05-20 | 2.20% | JP1300051156 |
| Japan | 2.20% | 2031-06-20 | 0.10% | JP1103631M74 |
| Japan | 2.28% | 2032-05-20 | 2.30% | JP1300071253 |
| Japan | 2.39% | 2033-06-20 | 0.40% | JP1103711P74 |
| Japan | 2.53% | 2034-06-20 | 1.10% | JP1103751Q74 |
| Japan | 2.67% | 2035-06-20 | 1.50% | JP1103791R75 |
| Japan | 2.80% | 2036-06-20 | 0.20% | JP1201571G68 |
| Japan | 3.16% | 2039-06-20 | 0.30% | JP1201691K75 |
| Japan | 3.55% | 2044-06-20 | 1.90% | JP1201891Q77 |
| Japan | 3.82% | 2049-06-20 | 0.40% | JP1300631K78 |
| Japan | 3.96% | 2054-06-20 | 2.20% | JP1300831Q70 |
| Japan | 3.83% | 2062-03-20 | 1.00% | JP1400151N57 |