Asian stock markets fell, US and Japanese long-term bond yields surged, the yen came under pressure, and spot gold held steady.
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A global bond selloff triggered by a surge in corporate debt issuance and concerns over the fiscal health of developed countries is intensifying, dragging down U.S. Treasuries and European bonds and spreading to the Japanese market.
On Wednesday, September 3, the yield on Japan’s 20-year government bond climbed