Japanese Government Bond Yields (JPY)
Fitted spot curve as of 2026-10-05
https://bondscovery.com/yield-curve/jpy-government-3
Japanese Government Bond Yields (JPY) as of 2026-10-05: 10Y at 4.41%, fitted curve 1M–30Y (1.97%–5.43%), 75 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 1.97% | — |
| 6M | 2.10% | 2.14% |
| 9M | 2.18% | 2.42% |
| 12M | 2.25% | 2.42% |
| 18M | 2.40% | 2.73% |
| 2Y | 2.55% | 3.04% |
| 3Y | 2.85% | 3.49% |
| 4Y | 3.12% | 4.07% |
| 5Y | 3.39% | 4.60% |
| 6Y | 3.63% | 5.09% |
| 7Y | 3.86% | 5.52% |
| 8Y | 4.06% | 5.89% |
| 9Y | 4.25% | 6.20% |
| 10Y | 4.41% | 6.45% |
| 15Y | 4.98% | 6.86% |
| 20Y | 5.25% | 6.91% |
| 30Y | 5.43% | 6.46% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 2.55% and the 10-year 4.41%, a 10Y−2Y spread of +186 bp — positively sloped — as of 2026-10-05. 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 | Latest2026-10-05 |
|---|---|
| 2Y | 2.55% |
| 10Y | 4.41% |
| 10Y − 2Y | +186 bp |
Bonds in this curve
A selection of 30 of the 75 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Poland | 1.73% | 2026-11-20 | 0.93% | JP561600APB8 |
| Hungary | 2.37% | 2027-02-25 | 0.73% | JP534800BN26 |
| Philippines | 2.07% | 2027-04-22 | 0.76% | JP560800AN48 |
| Indonesia | 2.09% | 2027-05-27 | 0.99% | JP536000AQ50 |
| Indonesia | 2.08% | 2027-06-09 | 1.13% | JP536000BN60 |
| Mexico | 2.44% | 2027-08-27 | 1.43% | JP548400AQ85 |
| Slovenia | 1.77% | 2027-09-03 | 0.75% | JP570500EQ92 |
| Mexico | 2.77% | 2028-04-20 | 1.05% | JP548400CJ41 |
| Indonesia | 2.48% | 2028-05-26 | 0.98% | JP536000BP50 |
| Philippines | 2.48% | 2028-08-15 | 0.99% | JP560800CJ83 |
| South Korea | 2.08% | 2028-09-14 | 0.75% | JP541000BP92 |
| Philippines | 2.73% | 2029-04-20 | 0.95% | JP560800BN47 |
| Indonesia | 2.79% | 2029-05-25 | 1.33% | JP536000BQ59 |
| Indonesia | 3.06% | 2030-05-24 | 1.20% | JP536000CP59 |
| Indonesia | 3.09% | 2030-07-02 | 1.87% | JP536000BR66 |
| Indonesia | 3.34% | 2031-05-27 | 0.89% | JP536000DM51 |
| Indonesia | 3.30% | 2031-06-30 | 2.67% | JP536000BS40 |
| Philippines | 3.41% | 2032-04-22 | 1.22% | JP560800CN46 |
| Indonesia | 3.54% | 2032-06-02 | 2.05% | JP536000CR65 |
| Indonesia | 3.62% | 2033-04-28 | 2.89% | JP536000CS49 |
| South Korea | 3.02% | 2033-09-14 | 1.31% | JP541000DP90 |
| Mexico | 4.47% | 2034-08-28 | 2.27% | JP548400DQ82 |
| Hungary | 4.56% | 2034-09-12 | 2.35% | JP534800BQ98 |
| Indonesia | 4.07% | 2035-06-01 | 2.35% | JP536000DR64 |
| South Korea | 3.34% | 2035-10-30 | 1.92% | JP541000DRA8 |
| Indonesia | 4.11% | 2036-04-30 | 3.23% | JP536000DS48 |
| Indonesia | 4.40% | 2036-05-27 | 1.17% | JP536000EM50 |
| Indonesia | 4.94% | 2040-07-06 | 1.80% | JP536000EL77 |
| Indonesia | 5.10% | 2044-05-27 | 2.55% | JP536000GQ54 |
| Poland | 5.36% | 2054-11-27 | 3.05% | JP561600EQB8 |