New Delhi, Nov. 20 -- Japanese government bonds (JGBs) saw a sharp sell-off, pushing long-term yields to their highest levels in decades amid concerns over Japan's fiscal position and a weakening yen, which has slipped to a 10-month low. As bond prices and yields move inversely, the decline in prices has sent yields on longer-tenor JGBs to record or multi-year highs.

The 30-year JGB yield rose 5 basis points (bps) to an unprecedented 3.39%, while the 20-year yield climbed 3.5 bps to 2.85%, its highest level since June 1999. The benchmark 10-year yield hit 1.835%, a level last seen in June 2008. Shorter maturities also moved higher: the two-year yield rose 3.5 bps to 0.96%, and the five-year yield increased 4.5 bps to 1.305%, both their h...