Japan Government Bond (JGB) 5-Year Yield (Daily)

## What this measures

The 5-year yield on Japanese government bonds, in percent per year, daily from 24 September 1974, as published by Japan's Ministry of Finance in its JGB interest rate table (constant-maturity yields by term). It read 2.437% on 7 October 2026; the low was −0.389% on 25 September 2019 and the high 10.656% on 9 April 1980.

## Why it matters

The five-year JGB is the belly of the curve: it prices the Bank of Japan's path over a full cycle and anchors the cost of medium-term borrowing in Japan.

## How to read it

Higher means dearer medium-term borrowing and a steeper expected policy path. Compare with the 1-year and 10-year JGB yields for the shape of the curve, and with the U.S. 5-year for the rate differential that drives the yen.

## What it does not say

Constant-maturity yields from the MOF table, not the quoted yield of one bond. Nominal. The MOF publishes the current month in one file and history in another; the current-month file wins where they overlap.

## Source

Ministry of Finance Japan, "Interest Rate" (JGB yields by term), mof.go.jp/english/policy/jgbs/reference/interest_rate/ (jgbcme.csv and historical/jgbcme_all.csv). Content on the MOF site is provided under the Public Data License (Version 1.0), which permits commercial use and is compatible with CC BY 4.0 (mof.go.jp/about_mof/notice/). Attribution: Source: Ministry of Finance Japan, Interest Rate (edited by Palanor). Refreshed daily by /api/cron/global-yields-sync.