Japan's Long-Term Bond Yield Surpasses 3.8%... 'Quiet Yen Carry Trade' Overwhelms Digital Assets

Japan's 20-year government bond auction yield has surpassed 3.8%. While some market participants feared a collapse in bond demand, the bid-to-cover ratio increased, closing the auction stably. However, market experts point out that beneath this surface stability lies greater risk, as Japan's sustained rise in long-term interest rates could prompt Bank of Japan (BOJ) monetary policy adjustments, potentially shaking the fundamentals of global asset markets and virtual assets like Bitcoin.