John Rubino's Substack

John Rubino's Substack

Japan's Bond Market Crisis Intensifies

Has BOJ finally lost control?

John Rubino's avatar
John Rubino
Jul 24, 2025
∙ Paid

Japan, with its highest in human history per capita government debt, has been an accident waiting to happen for a long time. But somehow, it has always managed to slip out of whatever trap the financial markets set for it.

Until now?

Japanese interest rates have been rising, increasing government interest costs and leading traders to wonder if the Bank …

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