什么情况？日本新发10年期国债现零交易

Group 1 - Japan's newly issued 10-year government bonds had no transactions for the first time since March 27, 2023, highlighting the ongoing volatility in the global market and significant rise in yields, particularly for long-term bonds [1] - According to recent analysis, the Bank of Japan (BOJ) plans to implement a Quantitative Tightening (QT) strategy starting August 2024, which will reduce its total government bond holdings by 7%-8% by March 2026 and by 16%-17% by March 2027 [1] - The BOJ's decision to slow down the QT plan and maintain its long-term bond purchase strategy, along with the Ministry of Finance's plan to reduce long-term bond issuance by 3.2 trillion yen, is expected to alleviate liquidity concerns in the Japanese government bond market [1] Group 2 - As liquidity in the government bond market improves, short-term declines in Japanese bond yields and a potential depreciation of the yen are anticipated, with the 10-year bond yield having already decreased by 15 basis points from its peak in May, with an additional potential decline of 15-30 basis points [1] - In the medium term, interest rate hikes and QT are expected to support a rebound in the yen and an eventual rise in Japanese bond yields, with the 10-year bond yield potentially reaching a central level of 1.88% [3]