Expectations of fiscal expansion rise as Shigeru Ishiba resigns, triggering a plunge in Japanese long-term government bonds and sending the 30-year bond yield soaring to a historic high.
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The sudden resignation of Japanese Prime Minister Shigeru Ishiba has heightened market expectations that the country's fiscal discipline may be relaxed, triggering a sharp sell-off of long-term Japanese government bonds.
On Monday, prices of long-term Japanese government bonds plunged, pushing yields higher. In particular, the yield on 30-year