Japan - Average Long-term Government Bond

Japan: Average Long-term Government Bond

Unit %, NSA
Adjustments Not Seasonally Adjusted
Data 17 Mar 2023 1.46
16 Mar 2023 1.45

Series Information

Source Ministry of Finance - Japan
Release Government Bond Yields
Frequency Business Daily
Start Date 11/6/2007
End Date 3/17/2023

Japan: Markets

Reference Last Previous Units Frequency
Stock Market Index 20 Mar 2023 26,945 Index, NSA Daily
Average Long-term Government Bond 17 Mar 2023 1.46 1.45 %, NSA Daily
Treasury Bills (over 31 days) Jun 2017 -0.1 -0.13 % p.a., NSA Monthly
Lending Rate Feb 2017 0.99 1 % p.a., NSA Monthly
Money Market Rate Apr 2016 0 0 %, NSA Monthly

Release Information

The interest rates on a constant maturity basis are calculated on the yield curve which is formed based on the prevailing market yields of selected specific JGBs by grid.

Data is available busines daily, and presented in percentages (%).

Reference Prices [Yields] for OTC Bond Transactions are calculated by the JSDA on a basis of the OTC quotations reported daily by Designated-Reporting Members to the JSDA. Each of the OTC quotations, which is the mid-price of selling and buying quotation, is reported as reference prices [yields] of transactions of JGBs, municipal bonds, government-guaranteed bonds, corporate bonds, etc. with volume of some 500 million yen at 3 p.m. The OTC quotations are not actual transaction data.

The Reference Prices [Yields] for OTC Bond Transactions are composed of the arithmetic average, the highest, the median and the lowest of the OTC quotations.

The Long-term Government Bond Yield to be disseminated according to the SDDS is the arithmetic average of the Reference Prices [Yields] for OTC Bond Transactions of the latest issue of 10 year Government Bonds.  Please note that on the website of the JSDA, the data are treated as those for the date T+1.)

The data for the 10-year rate refers to the par yield rates. “Long term (in most cases 10 year) government bonds are the instrument whose yield is used as the representative ‘interest rate’ for this area. Generally the yield is calculated at the pre-tax level and before deductions for brokerage costs and commissions and is derived from the relationship between the present market value of the bond and that at maturity, taking into account also interest payments paid through to maturity.” (https://stats.oecd.org/index.aspx?queryid=86).

Data are final when first released.

More information here: http://www.mof.go.jp/english/jgbs/reference/interest_rate/outline-e.pdf