Coverage tagged: Japan (JPN)
Every story tagged to Japan in the reporting behind our ratings, newest first. State-self-reported sources are excluded from scoring; non-anglophone coverage is surfaced in translation. Every card links to its source.
15 stories, newest first - 0 on this page in translation
The 10-year JGB yield crossed 3% on Sept 1 for the first time in 30 years, with the 30-year at a record 4.18% and the yen at 160. For the most indebted advanced economy, a structural break in the cost of long money is a fiscal event rather than a market one.
Governor Ueda signalled on Sept 1 that the Bank will debate a September rate hike, saying underlying inflation is nearing the 2% target. A central bank moving toward tightening precisely when the sovereign's borrowing costs are spiking is independence exercised against fiscal convenience. Corroborated by Mainichi.
The 10-year JGB reached 2.9494% (highest since September 1996) and the 5-year a record 2.18% in the global rout, with the pre-window record yen intervention faded back to ~159/USD by Aug 20 and markets pricing ~80% odds of a BoJ hike. On the world's largest gross-debt stock this drove the near-term fiscal trim.
A simultaneous long-duration selloff on Aug 18 set a record UK 50-year gilt yield (5.392%), the highest 10-year JGB since September 1996 (2.9494%), French yields since 2008 and German since 2011, with the US 30-year at 5.33% (19-year high). Global term-premium repricing; drove the US fiscal cut alongside the Treasury's buyback response.
Pyongyang resumed ballistic-missile testing after a four-month pause with SRBM launches Aug 7 and Aug 11 from Wonsan (the second reaching ~56mi altitude and ~430mi range, landing outside Japan's EEZ), preceded by Kim Yo Jong's Aug 5 warning over Japan's militarization and timed ahead of Ulchi Freedom Shield. Pattern resumption, wire-sourced; confidence up.
The yen traded ~159/USD on Aug 14 near the watched 160 line after touching 40-year lows in late July, following a record coordinated US-Japan yen-buying intervention that was not followed up, while the BoJ's July summary flagged inflation-overshoot risk with a member floating a faster hike pace. Intervention capacity demonstrated, durable effect not; monetary independence worsened 5 to 4.
The July 28 M6.8 Kumamoto quake's toll climbed through the window (34 dead by July 31, other counts 39 dead and 170+ injured, ~300,000 evacuated, 800+ of 4,500 Hikawa homes destroyed or damaged), and Typhoon Dolphin hit Okinawa Aug 8 (5 injured, 14,000 buildings without power). Two dated catastrophe hits in one window; disaster insurance worsened -3 to -4.
The session closed ~July 25 with all 64 cabinet bills passed, including a ban on desecration of the Japanese flag, an imperial-succession overhaul and a second-capital provision, while approval slid (Asahi 60% to 53%, ANN 49.2%, Mainichi ~41%) and 71% disapprove of the cost-of-living response. A speech-restrictive statute enacted through total legislative control: drove civil liberties 5 to 4.
The July 28 M6.8 Kumamoto quake killed 34, including 7+ in an Aeon Mall floor collapse in Kashima and 8 at a Nippon Paper mill in Yatsushiro, with a tsunami warning issued; the industrial-facility failures suggest real local economic damage. A significant loss event absorbed by high national resilience: disaster insurance held at -3 with confidence up.
The yen hit ~163.99/USD July 23, its weakest since 1986, consolidating near 163.9 into the July 30-31 BoJ meeting (decision lands July 31, outside the window; consensus hold at 1.0% with an upgraded GDP forecast). A 40-year low that imports the oil shock and keeps carry-unwind risk live despite the June hike: drove Japan monetary independence 6 to 5.
North Korea fired ~10 ballistic missiles toward the East Sea July 11, its first ballistic test since January per South Korea's JCS, days after weapons tests for the new destroyer Kang Kon slated for September commissioning. North Korea conflict held at -8 with confidence up (pattern resumed, not broken).
The yen stayed near a 39-year low (~162.6/USD, July 8) despite a record ~11.7tn-yen April-May intervention and repeated warnings - markets testing Tokyo's resolve. Japan fiscal_state held near 2/long -4.
Japanese corporate filings show China's critical-mineral choke (since PM Takaichi's Nov-2025 Taiwan remarks) now hitting the broad industrial base, with Tokyo racing for alternatives. Japan trade_actions_capacity near 2 to 1.
The yen touched ~40-year lows (~161-162/USD) despite a record ~11.73tn-yen intervention, with mounting defense costs and waning efficacy, even as the BOJ reaffirmed its hiking path. Japan fiscal_state near 3 -> 2; monetary_independence held at 6.
The Bank of Japan raised its policy rate 25 basis points to 1.0% on June 16 - the highest since 1995 - on a 7-1 vote, citing inflation and yen risk, with the deputy governor signaling further hikes to come; the data-driven tightening reaffirmed the BOJ's credibility despite global carry-trade implications.