Japan’s Retail JGB Sales Hit Highest Since 2007 as Rates Climb

Sales of Japan’s government bonds for individual investors have surged past ¥5 trillion ($32 billion) this year, the most since 2007, as rising interest rates draw household cash out of bank deposits after the Bank of Japan began tightening policy.

Issuance from January to December totaled about ¥5.28 trillion, Ministry of Finance data show. The five-year retail note issued in November carried a 1.22% coupon, almost 2.7 times the 0.46% offered a year earlier.