不到半月，日本再遭股债“双杀”

Core Points - Japan's stock and bond markets faced significant declines on December 1, with the Nikkei 225 index dropping by 1.89% and bond prices plummeting, leading to the highest yields since 2008 [1][3] Group 1: Market Performance - The Nikkei 225 index experienced a high opening but fell over 1,000 points during the day, closing with a 1.89% decline [1] - Japanese government bond prices fell sharply, with the two-year bond yield rising by 2.5 basis points to 1.015%, marking the highest level since 2008 [1] - The yield on the newly issued 10-year government bonds reached 1.840%, the highest since June 2008 [1] Group 2: Economic Policies and Market Reactions - Concerns over Japan's fiscal situation have intensified due to Prime Minister Fumio Kishida's push for aggressive fiscal policies and a commitment to maintain loose monetary policy [1] - The Bank of Japan's Governor Kazuo Ueda indicated that the central bank would weigh the pros and cons of a potential interest rate hike, suggesting a cautious approach [3] - Speculation about a possible interest rate increase in December has been growing, with the yen depreciating by 5% against the dollar this quarter, making it the worst-performing currency among G10 currencies [4] Group 3: Government Bond Issuance - The Japanese Ministry of Finance plans to increase the issuance of short-term bonds to support the economic stimulus plan proposed by Prime Minister Kishida, raising the issuance of two-year and five-year bonds by 300 billion yen [4] - The issuance of 6.3 trillion yen in treasury bills is also planned, which may exert pressure on Japan's short-term sovereign bonds [4] - Analysts suggest that caution regarding Japanese bonds is prudent due to potential inflation acceleration and a significant increase in mid-term government bond issuance affecting supply-demand balance [4]