🚨Japanese government bond yields are THROUGH THE ROOF: The 40-year Japanese government bond yield has risen to 4.33%, the highest level since this maturity was introduced in 2007. At the same time, the 30-year JGB yield has breached 4.40% for the first time in history. The surge in government bond yields is global, driven by surging oil prices raising inflation and rate hike expectations. Furthermore, growing fiscal concerns in Japan over increased bond issuance and energy relief measures are adding further pressure. Political instability in the UK is adding another layer of uncertainty. Global government borrowing is getting increasingly expensive and bond markets are the most important markets to watch right now.