Odaily Planet Daily News - Japan’s government bond selloff continues, with the 10-year government bond yield reaching its highest level since February 1999. The 20-year government bond yield rose approximately 10 basis points to 3.08%, the 30-year government bond yield rose 3 basis points to 3.485%, and the 40-year government bond yield rose 8 basis points to 3.69%. Financial website investinglive analysis suggests that although the yen faces spillover pressure, some may argue that developments in the bond market could be the biggest risk facing Japan’s economy this year. The government and the Bank of Japan must closely monitor developments, as the situation has undoubtedly deteriorated at an accelerating pace over the past three months. Given the selloff in Japanese bonds (with yields soaring), the yen also faces severe tests and pressure, indicating that traders and investors are more focused on fiscal and economic issues rather than the Bank of Japan’s policy and narrowing interest rate differentials. (The Gold Ten)
