日本央行警告股市出现过热的早期迹象

Group 1 - The Bank of Japan's financial system report indicates early signs of overheating in the Japanese stock market and warns that uncertainties in U.S. trade policy could lead to significant market corrections, impacting financial institutions [1] - The report highlights that rapid position adjustments and deleveraging by hedge funds during unexpected market changes could amplify asset price volatility, particularly if these adjustments occur in the global bond market, potentially affecting various financial instruments in Japan [1] Group 2 - Critics argue that the Bank of Japan's prolonged ultra-low interest rates and a weak yen have made investments in Japan cheaper for foreign investors, consequently driving up asset and property prices [4] - In April and May of this year, rumors regarding large-scale fiscal spending and potential increases in debt issuance led hedge funds to sell bonds, resulting in a significant spike in long-term Japanese government bond yields [4]