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Japan's 10-year JGB yield closed at 3.0175% on Dec 2, up 2.17bp for a sixth straight session and touching 3.0226% intraday, the first move above 3% since September 1996 as part of a broader global bond selloff. The key channel is the yen carry trade: a sharp unwind would force deleveraging across high-beta risk assets including BTC and ETH, but the current read is that repatriation pressure stays contained, limiting the 2024-style shock scenario. Watch USD/JPY direction, the JGB-UST spread, and any BOJ signal on further hikes or JGB purchase adjustments, since renewed yen strength alongside rising domestic yields is the combination that would flip carry positioning into forced liquidation.
As a Forex signal, watch whether it changes price action, volatility, or flows around JPY=X, BTC, IXIC.
Original Source: 연합인포맥스
This page is market information analysis, not investment advice.
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