Odaily Planet Daily Report: On January 21, the Japanese government bond market experienced a massive sell-off, with the 30-year and 40-year yields rising over 25 basis points in a single day. The 40-year government bond yield reached 4%, the highest level since 2007. The market turmoil was triggered by Prime Minister Fumio Kishida’s fiscal plan to cut taxes and increase spending, causing investor concerns about Japan’s fiscal sustainability. As a result, the Nikkei 225 index opened down 718.60 points, a decline of 1.36%, at 52,272.50 points. The Korea KOSPI index opened down 74.42 points, a decline of 1.52%, at 4,811.33 points. Additionally, U.S. Treasury yields rose to multi-month highs.
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