Kamikaze bonds

Banzai! Japanese Government Bond holders cry as their investments dive into oblivion and them with it

If we could pin a bond market problem on just one event, it would be so much easier to explain it. Doubtless, poor demand for a 20-year JGB auction on Tuesday was a contributing factor. And the Prime Minister pointing out in parliament that Japan’s debt problem is worse than Greece’s was at the time of its crisis probably didn’t help.