world-economy

Japan Stands Firm Against Extra Budget as Global Bond Yields Surge

Finance Minister Satsuki Katayama said Japan has no immediate need for supplementary budget measures, attributing recent rises in government bond yields to worldwide market pressures rather than domestic factors.

Longer-dated Japanese government bonds declined Thursday despite solid bidding at a 30-year auction, as climbing global yields continued to pressure prices across markets. The selloff extends beyond Japan. Government bonds tumbled worldwide, with yields climbing from Tokyo to Washington.

US Treasury Secretary Scott Bessent aligned with Katayama's assessment, characterizing excess foreign-exchange volatility as undesirable—a signal of tacit US approval for Japan's market stabilization efforts. The synchronized commentary underscores shared concern over currency swings amid broader financial market turbulence.