Japan’s benchmark bond yield hits 3% for first time since 1996

Treasury Secretary Scott Bessent, who’s repeatedly signaled that Japan needs higher interest rates to bolster the yen, suggested he’s supporting such a move after a meeting with Bank of Japan Governor Kazuo Ueda.

US Treasury Secretary Scott Bessent has called on Japan to hike interest rates by invoking director Spike Lee’s most famous movie and saying that the Bank of Japan should “do the right thing.”