Japan's 2-year government bond yield surged to 1% on December 1, its highest since 2008. Bank of ***** an Governor Kazuo Ueda signaled a possible interest rate hike at the December 18-19 monetary policy meeting, sending ripples through global financial markets.
This development could mark the end of three decades of ultra-low interest rates that fueled the yen carry trade. As borrowing costs rise and the yen strengthens, global markets now brace for significant deleveraging across ***** et classes.
Japan’s bond market moved sharply following Ueda's recent statements. The 2-year note yield ro