PANews reported on December 4th that the yield on Japan's 30-year government bonds hit a new record high of 3.445% on Thursday morning, after the Ministry of Finance was scheduled to sell 700 billion yen worth of notes within this range, with the results to be announced in the afternoon. Sony Financial Group economist Takayuki Miyajima stated, "While speculation about a Bank of Japan rate hike and concerns about fiscal expansion are driving selling pressure, the upcoming 30-year bond auction is expected to see a smooth result due to high yields supporting demand." Japanese government bond yields have been trending upwards, reflecting market expectations of a December rate hike by the Bank of Japan and concerns about a potential deterioration in Japan's fiscal situation.