Japan’s 40-year government bond yield hit a record high on Tuesday amid a broad selloff in government bonds, as investors worried that proposed cuts to the food sales tax could worsen the country’s fiscal position. The long-dated yield rose more than five basis points to 4%, the highest level since the 40-year maturity was introduced. Yields on shorter maturities climbed sharply as well. The 10-year Japan government bond yield rose by over six basis points to 2.3%, the highest level since 1999, while yields on the 20-year tenor jumped by around 9 basis points to 3.35%. The selloff came a day after Prime Minister ... (full story)