U.S. Treasury Secretary Bessent warned that “unbelievable price movements” were occurring in the Japanese market. The article describes an event in January 2026, when the 10-year Japanese government bond yield temporarily rose to 2.38%, its highest level in 27 years.
U.S. Treasury Secretary Bessent reportedly warned that price movements in the Japanese market represented an “unusual situation.” The article links domestic developments with the market reaction and cites populism in fiscal management and the effects of policy as background factors.
On 20 January 2026, the day after Prime Minister Takaichi Sanae (高市早苗) announced a policy to dissolve the lower house following the lower-house election, the 10-year Japanese government bond yield rose to 2.38%, reaching a 27-year high.
The move indicated heightened tension surrounding domestic fiscal policy and the market reaction. The article is structured as an excerpt and edited version based on the work of Hara Masato (原真人).