Japanese government bond yields have been climbing for many months. Initially, it was in response to the Bank of Japan (BOJ) unwinding decades of extreme monetary accommodation. In response to a collapse in real estate values and the Nikkie 225, the BOJ slashed its policy rate from 6.0% in 1991 to 0.50% in 1995. In 1999, the BOJ lowered it 0.0%, and lifted it to 0.50% in February 2007. In the wake of the 2008 Financial Crisis, the BOJ dropped the policy rate to 0.1%, and in 2010 to 0.0%. In early 2016 the policy rate was lowered to -0.1% until February 2024. Since February 2024, it has...
