Japan is turning up the heat on the markets.
​The yield on 10-year government bonds (JP10Y) jumped above 3.03% — a 30-year record. For a country that has spent decades living with near-zero (and even negative) rates, this is a real tectonic shift.
​What it means in practice:
​Japanese capital is starting to return home
​Pressure on global debt markets is increasing
​The Bank of Japan faces a difficult choice about further policy.
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