Japan’s 10-year government bond yield reached 2.945%, its highest level since September 1996, while the 30-year yield touched 4.115%. The yen has weakened toward 159 per dollar, raising concerns for yen carry trade investors estimated at roughly $250 billion by the Bank for International Settlements. Paradoxically, Bitcoin has remained indifferent to these tensions, rising 22% in one week to trade around $77,355. The Bank of Japan, meeting on September 17 and 18, is widely expected to raise its policy rate from 1% to 1.25%, which could amplify pressure on carry trade positions.
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