US 10Y 4.84%, Japan 10Y 2.696% | Nov 6, 2026 / MOF & FRED / US-Japan Yield Update

Latest US and Japanese government bond yields (dates differ by country).

10-year (the focus): the US 10-year yield was 4.840% on Nov 5, down 6.0bp on the day, at 65% of its 1-year range (0% = low, 100% = high). Japan’s 10-year yield was 2.696% on Nov 6, down 11.0bp, at 71% of its 1-year range.

2-year: US 4.460% (Nov 5, -12.0bp, 70% of range); Japan 1.732% (Nov 6, -12.8bp, 76%).

30-year: US 5.250% (Nov 5, -3.0bp, 59%); Japan 3.898% (Nov 6, -1.7bp, 75%).

Side notes: the US-Japan 10-year spread (US minus Japan, on days with both values) was 203.4bp on Nov 5, versus 204.5bp the previous day. The 10-year minus 2-year gap was 38.0bp in the US (Nov 5) and 96.4bp in Japan (Nov 6).

Sources: FRED (St. Louis Fed; originally US Treasury data) for US yields, and the Japanese Ministry of Finance for JGB yields.

日米10年債の水準（主役）

Where the 10-Year Yields Stand

This section covers the headline figures: the 10-year government bond yields of the United States and Japan. The dates differ by country. The US value is for Nov 5, 2026, and the Japanese value is for Nov 6, 2026.

Position within the one-year range

The “position” scores today’s yield on a scale where the one-year low is 0% and the one-year high is 100%.

• US 10Y: high 5.310% (Oct 5, 2026), low 3.970% (Feb 27, 2026), position 65%.
• Japan 10Y: high 3.111% (Oct 7, 2026), low 1.688% (Nov 7, 2025), position 71%.

Reading the numbers

• Both 10-year yields were lower than on the previous business day.
• One month earlier, both were higher: the US stood at 5.270% and Japan at 3.111%.
• Japan’s 10-year yield one month earlier (3.111%) equals its one-year high.
• In both countries, the current level sits above the midpoint of the one-year range.

Data context

US yields come from FRED, the St. Louis Fed’s database. The series originates with the US Treasury, and the figure reported here is for the previous business day. Japanese yields come from the Ministry of Finance’s JGB yield data. The source material gives no reason for the moves, so none is offered here.

2年債と30年債の水準

2-Year and 30-Year Yields

These are the short-term (2-year) and ultra-long (30-year) yields shown beneath the 10-year headline. US values are for Nov 5, 2026 and Japanese values are for Nov 6, 2026.

2-year

30-year

Reading the numbers

• Both 2-year yields fell by more than 10bp on the day.
• The 30-year yields fell by less than the 2-year yields in both countries.
• Japan’s 2-year and 30-year yields sit at roughly 75% of their one-year ranges.
• In the US, the 2-year sits at 70% and the 30-year at 59%.

Note

Position means the share of the distance between the one-year low (0%) and high (100%). The US figures are drawn from Treasury data republished by FRED, and the Japanese figures from the Ministry of Finance.

補足：10年債の日米差と長短の差

Side Notes: the US-Japan Gap and the Yield Curve

The focus of this report is the level of each country’s 10-year yield. This section briefly covers the supplementary figures in the source data.

10-year spread (US minus Japan)

The spread is calculated only on days when both countries have a value.

Japan’s Nov 6 value is not part of this spread, because the US value for the same day is not yet available.

Curve slope (10-year minus 2-year)

In both countries the 10-year minus 2-year gap was larger than in the prior reading.

How to read the dates

• US Treasury yields are for the previous business day; the latest is Nov 5, 2026.
• Japanese yields are Ministry of Finance published figures; the latest is Nov 6, 2026.
• Because the dates can differ, check the date attached to each number.