Japan Hit by Long Bonds Selloff as Yields Hit Multi

Japan’s longer-maturity debt slumped, sending yields to multi-decade highs, following a global selloff in bonds and political uncertainty in the nation. Yields on 20-year government bonds rose to levels last seen in 1999 while those on the 30-year maturity jumped to the highest since debut. The moves in Japan come after European and US bonds dropped, with the 30-year Treasury yield climbing back toward 5%. Bloomberg's Paul Dobson reports.