Japan's bond yields hit 30-year high amid global inflation concerns
Japan's government bond yields just jumped to their highest point in 30 years, with the two-year yield reaching 1.315%.
This spike is part of a bigger global selloff as investors worry about rising inflation, thanks in part to higher oil prices from the U.S.-Iran conflict.
The 10-year yield also climbed, hinting that changes could be coming from Japan's central bank.
Rate hike probabilities shift for BoJ and Fed
Central banks worldwide are warning that inflation isn't going away anytime soon, which is pushing up short-term interest rates.
In Japan, a weaker yen and pricier oil are putting extra pressure on the Bank of Japan to raise rates: there's now a 64% chance they'll do it by April.
Meanwhile, in the US rate hikes seem less likely for now, with market indicators showing a reduced probability of a Fed rate hike by December (about 18% on CME FedWatch), signaling pared-back expectations for Fed tightening.