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Japanese Government Bonds Are Crashing - Biggest Surge in Yields In 2 Years

Whether due to contagion from the surge in US Treasury yields or a double whammy of weak household spending and Retail Trade data indicating that Abenomics is an utter failure is unclear, but yields across the entire JGB complex are spiking by the most in over 2 years. 10Y yields are up almost 9bps (not much you say) except that is from 32bps to 41bps!! 2Y and 5Y JGB yields have roundtripped from last week's Fed-driven plunge. Is the BoJ/GPIF losing control of the largest and now most illiquid bond market in the world?



This is the biggest yield spike since the Taper Tantrum...


And stocks are spiking...


As the Nikkei has gained 4000 more points that the Dow in the last 6 months...


Chart: Bloomberg