刚刚，全崩了！黑天鹅，突袭！

Core Viewpoint - The article discusses the impact of two major black swan events on global markets: concerns over Japan's fiscal deterioration and Trump's aggressive stance on Greenland, leading to increased market volatility and a significant drop in global stock indices [2][4]. Group 1: Japan's Fiscal Concerns - Japan's 40-year government bond yield has surged to 4%, the highest since 2007, due to investor fears stemming from Prime Minister Kishi's proposal to temporarily lower the food tax, which has been met with opposition [5][8]. - The estimated cost of Kishi's proposal to suspend the 8% tax on food and non-alcoholic beverages is approximately 5 trillion yen (about 316 billion), which is close to the total spending on education, science, and culture [8]. - The lack of a clear funding source for the proposed tax cut has led to confusion and shock in the bond market, resulting in rising interest rates [8][10]. Group 2: Market Reactions - The auction results for Japan's 20-year bonds were poor, reflecting deepening concerns over fiscal deterioration, leading to a more cautious bidding environment [9]. - The market is increasingly anxious about upcoming bond auctions, including the 40-year bond auction on the 28th and the 10-year and 30-year bond auctions before the February 8th elections [9]. - Analysts suggest that the market may call for the Bank of Japan to increase bond purchases or for the Ministry of Finance to conduct buybacks to stabilize the situation [10].