The Japanese government bond market recorded significant fluctuations as the 10-year yield plummeted by 16 basis points during Friday's trading session. This movement brought the yield down to 2.71%, marking the most substantial single-day contraction for the benchmark note since April 2025.
This sharp reversal occurred immediately after the 10-year JGB yield climbed to 2.90% on Thursday. That peak represented a milestone level for the bond, reaching a threshold not seen in several years before the subsequent historic retreat.