BREAKING: Japan's 10Y Government Bond Yield has surged to 2.30%, near the highest since 1999.
This exceeds the 2008 Financial Crisis peak by 30 basis points.
Furthermore, the 5Y yield jumped to 1.72%, just a few basis points away from its all-time high.
This comes as rising lation in the Middle East are fueling inflation fears among investors.
The sell-off also follows 3 consecutive weeks of losses in US Treasuries.
Meanwhile, the USDJPY currency pair is approaching the 160 level that triggered multiple Japanese Ministry of Finance interventions in 2024.
As a result, Japanese authorities warned on Monday they are "fully prepared to take action" on currency moves.
Asia is facing an energy crisis.