report July 20, 2026 The Long Climb in JGB Yields Is Nearly Over JGB yields saw a historic rise between 2022-2026. Most of the rise came from higher inflation expectations and a normalization of term premia. Our analysis shows the Long Climb is likely nearly over.... By Takuji Okubo Japan Macro Advisors
report July 16, 2026 Japan’s Fiscal Vigilantes Are Misreading the Curve The JGB curve's shape shows fiscal fear is not the primary driver for the rise in long term bond yields... By Takuji Okubo Japan Macro Advisors
report July 1, 2026 Mercy for a Central Bank in a Vice The vice that held the Bank of Japan for four months loosened this morning.... By Takuji Okubo Japan Macro Advisors
report June 25, 2026 BoJ Steps Up Its Verbal Yen-Intervention The Bank implicitly communicates that defending the yen is now part of its rate hike framework... By Takuji Okubo Japan Macro Advisors
