Group 1 - The Japanese Ministry of Finance officials have received requests to reduce the issuance of 20-year government bonds [1] - Traders at the meeting generally agreed with the Ministry's bond plan [1] - Some participants requested the repurchase of ultra-long bonds, while others expressed concerns that repurchases could harm market autonomy [1] Group 2 - There are currently no plans to repurchase bonds, and such repurchases cannot be implemented immediately [1] - The revised bond plan is expected to contribute to market stability [1]

Core Viewpoint - The Japanese Ministry of Finance officials have indicated that they do not rule out the possibility of repurchasing some existing Japanese government bonds [1] Group 1 - The consideration of repurchasing government bonds suggests a potential shift in monetary policy or a response to market conditions [1]

Core Viewpoint - The Japanese government is making significant adjustments to its bond issuance plan in response to market turmoil, reducing the issuance of long-term bonds while increasing short-term bonds to address supply-demand imbalances in the bond market [1][3]. Group 1: Bond Issuance Adjustments - The Japanese government plans to cut the issuance of 20-year, 30-year, and 40-year bonds by 1 trillion yen (approximately 6.9 billion USD) each in upcoming auctions until March 2026, resulting in a total reduction of about 10% from the original plan [1]. - The total planned sales of Japanese government bonds (JGB) for the fiscal year ending next March will decrease by 500 billion yen (approximately 3.44 billion USD) to 171.8 trillion yen [2]. Group 2: Increased Short-term Bond Issuance - To compensate for the reduction in long-term bonds, the Ministry of Finance will increase the issuance of short-term bonds, including a 1 trillion yen increase in the issuance of 2-year bonds, bringing the total to 27 trillion yen [1]. - The issuance of 1-year bonds will also increase by 6 billion yen to 39 trillion yen, and 6-month bonds will see a similar increase to 3 trillion yen [1]. Group 3: Market Response and Context - The adjustments are a direct response to the recent volatility in the Japanese bond market, where long-term yields surged to record highs and auction demand weakened [3]. - The Bank of Japan's decision to slow down the reduction of bond purchases starting next fiscal year provides a supportive backdrop for the Ministry of Finance's adjustments [3]. - The strategy of increasing short-term bond issuance, while addressing immediate market concerns, may lead to more frequent debt rollovers, making the fiscal situation more susceptible to market fluctuations [3].

Core Viewpoint - The Japanese Ministry of Finance stated that speculation regarding bond repurchases in July is unrealistic [1] Group 1 - The Ministry's comments indicate a firm stance against the current market speculation surrounding bond repurchases [1]

Core Viewpoint - The Japanese Ministry of Finance stated that speculation regarding the bond repurchase in July is unrealistic [1] Group 1 - The Ministry's comments aim to clarify misconceptions surrounding the bond market activities [1] - The statement reflects the government's stance on maintaining stability in the financial markets [1]

Core Viewpoint - The Japanese Ministry of Finance stated that speculation regarding bond repurchases in July is unrealistic [1] Group 1 - The Ministry's comments indicate a clear stance against the current market speculation regarding bond repurchases [1]

Core Viewpoint - The Japanese government is considering repurchasing some ultra-long-term bonds issued at low interest rates to prevent sudden increases in bond yields [1] Group 1: Government Actions - The government aims to address the oversupply of ultra-long-term bonds, which include bonds with maturities of 20, 30, or 40 years [1] - Following the news, Japanese government bond yields declined, indicating market relief [1] Group 2: Upcoming Meetings and Decisions - The Ministry of Finance, responsible for overseeing the government's bond issuance plan, will hold meetings with bond market participants on June 20 and June 23 to make a final decision [1] - Approval from the budget is required for the repurchase of ultra-long-term Japanese government bonds, which may take time [1]