The sell-off in Japanese government bonds continues, with the 10-year yield hitting its highest level since February 1999, the 20-year yield rising about 10 basis points to 3.08%, the 30-year yield rising 3 basis points to 3.485%, and the 40-year yield rising 8 basis points to 3.69%. InvestingLive, a financial website, analyzes that while there is spillover pressure on the yen, some might argue that the bond market's movements may be the biggest risk facing the Japanese economy this year. The government and the Bank of Japan must closely monitor developments, as the situation has undoubtedly deteriorated rapidly over the past three months. Given the sell-off in Japanese bonds (soaring yields), the yen is also facing severe tests and pressure, indicating that traders and investors are more focused on fiscal and economic issues than on the Bank of Japan's policy and the narrowing interest rate differential. (Jinshi)