Core Viewpoint - Barclays strategists indicate that ultra-long Japanese government bond yields may face mild upward pressure following the recent Senate elections in Japan [1] Summary by Relevant Sections - **Market Reaction** - The balance of power between the ruling and opposition parties post-election suggests that the reasonable valuation for the 30-year Japanese government bond yield premium should be around 150 basis points [1] - This indicates an upward pressure of approximately 5 basis points from the previous level of 145 basis points [1] - **Temporary Factors** - The report mentions that some temporary factors could contribute an additional 5 basis points of upward pressure on yields [1]