超长期日本国债收益率飙升反映出日本私营部门需求不足

Core Viewpoint - The surge in Japan's ultra-long government bond yields reflects a structural lack of demand from the private sector [1] Group 1: Yield Surge Reasons - The increase in yields is attributed to structural demand deficiencies in the Japanese private sector [1] - Position adjustments and concerns regarding long-term fiscal policies may also contribute to the rise in yields [1] - Ultra-long bonds are unlikely to stabilize until structural supply and demand improvements occur [1] Group 2: Central Bank Focus - In the absence of sufficient demand from private investors, the Bank of Japan's potential adjustments to quantitative tightening policies and government bond issuance may become a focal point [1]