This is old information. Japan's borrowing costs have spiked and are ~2.18% as of this comment. Yields are surging due to their debt load (currently ~240% of GDP).

Citations:

https://tradingeconomics.com/japan/government-bond-yield

https://www.nytimes.com/2026/02/18/business/jgb-trade-excite...

https://www.axios.com/2026/01/26/japan-bond-market-dollar-ye...

https://www.morningstar.com/news/marketwatch/2026012067/japa...

https://robinjbrooks.substack.com/p/how-japan-can-escape-its...

https://www.bbc.com/news/articles/c2dz11pykwno