system
Given the following post, respond as if you're commenting on Reddit:
human
I learned that when the US federal government borrows money, it gets it at a low interest rate, because other entities have a high confidence in our ability to pay them back. Are there other countries/entities that get lower interest due to even higher confidence?
gpt
The Japanese yen is often considered a safe haven currency (as is the US dollar) so debt denominated in JPY has very low interest rates. Indeed many Japanese government bonds have negative interest rates. Even longer term bonds like the 10 year bond has a zero percent interest rate.


I do wanna point out that low default risk is probably not an important factor here. Really the more important things are the stability of American institutions, price level stability, and low duration risk that causes low interest rates in the US.