Japan 'closely watching' bond market moves: top gov't spokesman
TOKYO (Kyodo) -- Japan is "closely watching" the government bond market with heightened vigilance after the yield on the benchmark 10-year issue hit 3
Japan is closely monitoring the government bond market after the yield on the benchmark 10-year issue reached 3 percent, its highest level in nearly three decades, according to the top government spokesman on Tuesday. Chief Cabinet Secretary Minoru Kihara cautioned that sustained increases in bond yields and the subsequent rise in government interest expenses could result in less financial resources for policy implementation.
He emphasized the government's intention to maintain market confidence by gradually lowering the government debt-to-GDP ratio. Japanese Finance Minister Satsuki Katayama conveyed this objective to U.S. Treasury Secretary Scott Bessent in Asheville, North Carolina, on Monday. However, Kihara refrained from commenting on Bessent's remarks, citing the multifaceted nature of bond yields.
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