Coupon for 10-yr Japan gov't bonds raised to 3.1%, highest in about 30 yrs

The Finance Ministry on Tuesday raised the coupon rate for a new 10-year Japanese government bond issue to 3.1 percent, the highest in about 30 years, reflecting a recent rise in long-term interest rates.The coupon rate -- the interest rate stated on bonds at their issuance -- rose from 2.7 percent set in the previous auction in September.The rate increase comes as rising oil prices have fueled concern about inflation, while upward pressure on long-term U.S. interest rates has also spilled over to Japan.In the bond market, the yield on the newest issue of Japan's 10-year government bonds to…READ FULL ARTICLE