Are We Close to the First Major Central Bank Failure in Decades?

Japan’s bond market is destabilizing despite aggressive interventions by the Bank of Japan (BoJ). The BoJ’s unprecedented Quantitative Easing (QE) program, aiming to maintain the 10-Year Japanese Government Bond yield below 1%, is struggling. In the last month alone, the BoJ had to step in six times due to rising yields. As the Yen weakens, concerns grow over an imminent debt crisis, reminiscent of past financial bubbles.