Government bonds are coming under pressure globally, as Germany's move to cast off fiscal prudence to retool its economy and bolster its military ripples through markets. The bund rout continues: Fres

The yield on the 10-year JGB also crossed the 1.5% for the first time since June 2009, while the 30-year bond also crossing the 2.5% mark for the first time since 2008. Nomura head of FX strategy for Japan Yujiro Goto told CNBC that the spike in yields is due to the sharp rise in EGB yields.

On Wednesday, 10-year German bonds saw the worst day since March 1990 — just months after the fall of the Berlin Wall.