According to Bloomberg, on May 12 local time, due to the optimistic sentiment brought by the Sino-US trade negotiations, which prompted investors to sell safe-haven assets, the yield of Japan's 30-year government bonds climbed to its highest level in nearly 25 years. On that day, the yield of Japan's 30-year government bonds rose by 5 basis points to 2.955%, reaching the highest level since November 2000. The yield of Japan's 30-year government bonds rose by 5 basis points on the 12th, according to the statistics website Trading Economics. The report pointed out that the market has been concerned about the demand for Japan's ultra-long-term bonds. Before the Sino-US negotiations, the yield of Japan's 30-year government bonds had been hovering near the highest level since 2004. Following the trend of market risk appetite, the bond market also followed suit on the 12th after both China and the US reported "substantial progress" in trade talks but did not disclose specific details. Due to the negotiation suppressing the demand for safe-haven assets, the yields of US Treasury bonds also fell across the board. Short-term Japanese government bonds performed better as market expectations of interest rate hikes by the Bank of Japan weakened, while the yield of Japan's 30-year government bonds surged significantly amid global volatility and fiscal concerns. Japan's ultra-long-term government bonds have recently attracted record foreign capital inflows, but most large life insurance companies are reducing their holdings of Japanese bonds. In a report last week, Barclays Securities Japan Co. wrote: "Due to increased market volatility, people are worried about fiscal expansion through defense and stimulus spending, and the existing supply-demand structure is also very fragile." The report mentioned: "Since the Trump administration imposed additional tariffs in April, the bearish trend in the ultra-long-term bond sector has sharply intensified." This article is an exclusive contribution from Guancha Observer, unauthorized reproduction is prohibited. Original source: https://www.toutiao.com/article/7503449379697639945/ Disclaimer: The views expressed in this article are those of the author alone. Please express your opinions by voting up or down below.