Topix Dividend Yield Slips Below Japan’s 10-Year Bond Yield

The dividend yield on Japanese stocks has dipped below the 10-year government bond yield for the first time in at least two decades, after the recent selloff in the nation’s sovereign debt market.

The dividend yield on Topix index stocks now sits at around 2.28%, below the 2.34% compound yield on bonds, the first such crossover in data compiled by Bloomberg going back to August 2005.