Concerns over stimulus plans intensified, pushing the yield on 30-year Japanese government bonds to a record high.

PANews reported on December 24 that Japanese ultra-long-term bonds fell on Wednesday, pushing long-term yields to record highs as market concerns intensified regarding the government's debt-financed stimulus plan. The yield on Japan's 30-year government bond rose 2.5 basis points to 3.45%, breaking the record set earlier this week. The yield on the 40-year government bond rose 1.5 basis points to 3.715%. Long-term bond yields have been climbing sharply since early November as markets speculate on the size of Prime Minister Sanae Takaichi's debt-financed stimulus plan, while short-term bond yields rose after the Bank of Japan hinted at further interest rate hikes. According to NHK, Japan is preparing to issue approximately 29.6 trillion yen (about US$189.55 billion) in new government bonds for its fiscal year 2026 budget. However, in an interview with Nikkei on Tuesday, Takaichi reiterated that her "aggressive" fiscal plan does not include irresponsible bond issuance or tax cuts.