In the Tokyo bond market on the 9th, the yield on newly issued 10-year Japanese government bonds, a benchmark for long-term interest rates, briefly rose to 2.885%, reaching its highest level in about 30 years since November 1996. The rise was triggered by higher crude oil prices in the US market the previous day amid concerns over escalating US-Iran tensions, which pushed up US long-term rates on inflation fears, and this spilled over into the domestic market. Expectations of fiscal expansion under the Ishiba administration and a delay in Bank of Japan rate hikes are also adding upward pressure on rates.