Japanese government bonds being sold off is not accidental but a concentrated release of long-term pressure

Recently, Japan's government bonds have experienced a sudden sell-off storm. On the surface, it appears to be driven by rapidly rising yields and price pressures, but behind it reflects a concentrated release of long-standing structural issues. For years, Japan relied on ultra-loose monetary policy to suppress yields. Once the market doubts the sustainability of these policies, selling pressure quickly amplifies.
The core contradictions are threefold:
* Extremely high debt levels, diminishing marginal tolerance
* Rising inflation expectations, weakening the logic of negative interest rates
* The market is beginning to reassess the Bank of Japan's room for intervention
When the consensus that "the central bank will definitely backstop" begins to crack, even if only temporarily, the market will preemptively vote with prices. The sell-off of Japanese bonds is more a signal of shaken confidence than a single event. #日本国债突现抛售风暴