Core Viewpoint - The Japanese ultra-long-term bond market is experiencing significant turmoil, with yields reaching historical highs due to concerns over central bank policies and fiscal issues [1] Group 1: Market Dynamics - The liquidity and demand for ultra-long-term bonds have decreased, leading to rising yields [1] - Some market participants are urging the Bank of Japan to increase its purchases of ultra-long-term bonds or halt its bond reduction plan amid the current market collapse [1] - There is a consensus that slowing down the bond reduction could alleviate market pressures, especially as debt issues gain more attention [1] Group 2: Fiscal Concerns - The Japanese Prime Minister's statement that the country's fiscal situation is "worse than Greece" has intensified market fears [1] - The volatility in the bond market may trigger a chain reaction that could impact global markets, as it may lead Japanese investors to withdraw funds back to Japan [1] Group 3: Future Outlook - The Bank of Japan is set to review its quantitative tightening plan during its next policy meeting on June 16-17 [1] - Any signs of intervention or changes in the bond reduction plan from the central bank could exert pressure on the yen exchange rate [1]