市场情绪较为悲观 投资者抛售长期日债

Group 1 - The core viewpoint of the articles indicates a significant sell-off in Japanese government bonds, particularly long-term bonds, leading to a rise in yields, reflecting a pessimistic market sentiment among investors [1][6] - The yield on 10-year Japanese government bonds increased by 9.2 basis points to 1.591%, while the 30-year bonds rose by 12.6 basis points to 3.172%, indicating a broader trend of rising yields across various maturities [1] - The Japanese Ministry of Finance announced a reduction in the issuance of ultra-long bonds by 3.2 trillion yen, aiming to address concerns over fiscal deficits and alleviate pressure on long-term bond yields [3] Group 2 - The Bank of Japan plans to slow down its balance sheet reduction starting in 2026, contrasting with other central banks' aggressive tightening, which may help stabilize market confidence [3] - The upcoming 30-year bond auction on July 23 is seen as a critical test for market demand, with the previous auction showing a bid-to-cover ratio of 3.14, suggesting moderate interest but cautious sentiment towards longer-term bonds [3] - Despite the Ministry of Finance's supply reduction and the Bank of Japan's supportive stance, long-term bond yields have not stabilized, leading to continued investor sell-offs [6]