#JapanBondMarketSell‑Off Japan’s government bond market is experiencing one of the most dramatic sell‑offs in decades, not only reshaping domestic financial conditions but also sending ripples through global markets. For years, Japanese Government Bonds (JGBs) were seen as ultra‑safe and ultra‑low yield instruments, supported by aggressive central bank policies. But recent developments have upended that narrative and exposed vulnerabilities in one of the world’s largest fixed‑income markets.
At the heart of the sell‑off is a sharp rise in yields, particularly on long‑dated securities such as t