Economist Peter Schiff warned of potential global economic consequences as a rapid jump in Japanese government bond yields could trigger shockwaves beyond Japan.
JGB Yields Rising
In Tuesday’s post on X, Schiff said, “A real crash” is in the making, and “the shockwaves will extend well beyond Japan. All fiscal chickens are coming home to roost.” The economist is referring to the government’s years-long policy to suppress Japan’s bond market and interest rates, sparking concerns of potential fallout.
The comments come as the 10-year JGB yield spiked to above 2.8%, the highest level in 29 years and higher than the 1.6% yields seen 10 months ago. The 30-year yield climbed above 4% for the first time.
Schiff previously said, “They are getting yippy in Japan,” describing …
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