News Summary

• Japan's benchmark 10-year bond yield hit 3 per cent in Tokyo on Tuesday for the first time since September 1996.
• The rise was pushed higher by investor concerns about inflation, fiscal health and mounting pressure on the central bank to raise interest rates faster.
• Prime Minister Sanae Takaichi has laid out an ambitious spending plan aimed at boosting investment in growth areas and cushioning the blow to households from the rising cost of living.
• The focus on big spending has unnerved investors, causing a rise in yields that inflates the cost of funding Japan's huge debt-pile.