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‘Liz Truss-lite’: Is Japan in the midst of a sovereign debt crisis? Markets Japan’s long-dated bonds suffered their worst sell-off this century on Tuesday. Ali Lyon asks whether the rout could spark a full-blown debt crisis? For decades, the world’s fixed income investors have been sucked in – and spat out – by an alluring trade on Japan’s government bonds. Secure in their belief that the securities’ unfathomable, [...]
In Tokyo, Paris and London, political risk is on the rise Opinion Instability in Japan, France and the UK will have global consequences for the bond markets, says Helen Thomas For investors, the message is simple: political risk is rising. From Tokyo to Paris to London, governments face competing imperatives – fiscal credibility, economic stimulus and electoral survival. Sanae Takaichi, the new leader of Japan’s ruling LDP, [...]
Goldman warns Japan fiscal plans could spark UK bond sell-off Markets The fiscal plans touted by the woman poised to become Japan’s first female Prime Minister will trigger a sharp jump the country’s borrowing costs that could spill over into the price of UK and US government bonds, Goldman Sachs has said. Sanae Takaichi, an admirer of Margaret Thatcher, was swept to victory in her Liberal [...]