Charting the Global Economy: Japanese Bond Rout; Greenland Deal
An American flag in Nuuk, Greenland.
Photographer: Juliette Pavy/BloombergA rout in the Japanese government bond market earlier this week pushed yields to a record high and sent shockwaves through global markets.
Just $280 million of trading was enough to push Japan’s $7.2 trillion government bond market into a meltdown that illustrates a weak spot in the global financial system.