Japan's 2-year government bond yield has climbed above 1% for the first time since 2008, while the 30-year yield briefly touched a record high of 3.395%. These movements mark a significant shift, signaling the end of the country's decades-long era of ultra-accommodative monetary policy. Market observers note that this rise in yields reflects growing anticipation of a potential interest rate hike by the Bank of Japan in December. The shift in Japanese yield curves is closely watched by global markets due to its potential impact on carry trades and global liquidity.