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Story summary
- Prime Minister Sanae Takaichi pledged to cap annual bond issuance and match borrowing to revenues and rates.
- The 30-year Japanese government bond yield reached a record 4.235% on Monday.
- Takaichi announced a two-year food tax cut starting next April, which triggered a bond selloff.
- Former BOJ Deputy Governor Masazumi Wakatabe said the yield rise reflects expectations of further BOJ rate hikes.
