Netherlands–JGB 10Y Spread

The Netherlands–JGB 10Y Spread is the Netherlands 10-year government bond yield minus the Japanese 10-year government bond (JGB) yield. It represents the carry-funding differential: because the yen is a primary global funding currency, a wider spread makes the Netherlands a more attractive yen-carry target, while a narrowing spread or a Bank of Japan tightening move can trigger carry unwinds.