The political landscape in Japan is undergoing changes, with Prime Minister Fumio Kishida facing the possibility of a parliamentary dissolution. Market concerns about the outlook are directly reflected in the bond market. Investors are selling Japanese bonds to hedge risks, causing yields to rise sharply—10-year government bonds broke through 2.16%, hitting a record high, while 30-year bonds climbed to 3.48%, and 40-year bonds surged to 3.79%, setting new records. Behind this intense volatility in the bond market is a re-pricing of Japan's economic stability. For traders focused on macroeconomic environments and asset allocation, these data points are worth close attention—global central bank policies and major economies' policy shifts often serve as precursors to turning points in the crypto market cycle.