Headlines

China’s pressure campaign against Japan is backfiring badly

A few days ago, the Chinese government had the opportunity to reverse the current downturn in China-Japan relations, the worst in years. A delegation of Japanese lawmakers representing the ruling Liberal Democratic Party and the opposition parties Komeito and Centrist Reform

Asia

Bond markets are repricing Fed independence, not just inflation

By almost every explanation on offer for the bond selloff underway treats it as a familiar story wearing a new coat. Too much debt, too much deficit, inflation refusing to die down. All are true. But none of it fully explains why yields are climbing this fast and this broadly

Asia

Two bond bombs, one fuse: US, Japan hurtling toward a reckoning

Japan owes more relative to the size of its economy than any government on Earth at over 250% of GDP. For 30 years that didn’t matter, because Tokyo could borrow almost for free. Now the bill is arriving. Benchmark yields just hit 3%, a level the finance ministry never budgeted

Asia