BREAKING: Japan’s latest 40-year bond auction triggered a sharp rise in long-term yields, with the 30-year yield jumping 10 basis points and the yen recovering some losses. This reflects a global trend of rising long-term borrowing costs, as the Bank of Japan reduces bond purchases and traditional buyers like life insurers retreat. According to SMBC Nikko’s Miki Den, ongoing concerns about supply-demand imbalances and fiscal expansion make it a risky time for outright bond purchases. These shifts signal a potential new era of volatility in global fixed income markets
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