world-economy

Japan's Finance Minister Rules Out Supplemental Budget Amid Global Bond Yield Pressures

Finance Minister Satsuki Katayama said Japan has no immediate need for an additional budget, despite mounting pressure on government bond markets. Long-dated Japanese government bonds weakened this week as global yields continued their upward trajectory, outweighing solid demand at a 30-year debt auction.

Katayama characterized the rise in yields as part of a worldwide phenomenon rather than a domestic concern. Separately, U.S. Treasury Secretary Scott Bessent affirmed alignment with Japan on currency matters, stating both nations view excessive foreign-exchange volatility as counterproductive.

The remarks followed reports that Japanese authorities had intervened in currency markets last week for the first time since 2024. Katayama declined to confirm details of any intervention.