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A previous version of this story inaccurately described the closing direction of the stock market.
A soaring 30-year Treasury yield has grabbed the lion’s share of attention lately when it comes to signaling how the U.S. fiscal outlook is rattling investors. Yet there’s another less-talked-about factor weighing on sentiment and coming from overseas.
It is the recent tumultuous rise in Japan’s bond yields. A weak 20-year bond auction in Japan a few days ago sent the country’s 30-year yield
BX:TMBMKJP-30Y to almost 3.17% on Thursday, the highest in roughly 25 years of record-keeping. Its 40-year yield BX:TMBMKJP-40Y also jumped to 3.67%, the highest level since its inception in 2007.
This post was originally published on Market Watch
