● JAPAN'S 30-YEAR BOND YIELD HITS RECORD HIGH

Japan's 30-year government bond yield hit a record 4.235% on Monday, even as shorter maturities moved the other way. The 10-year yield slipped to 3.08% and the 2-year eased to 1.9%, a split that shows investors demanding extra compensation specifically for long-dated debt. The move comes just ahead of Prime Minister Takaichi's parliamentary remarks, with markets watching for any shift in Takaichi's reflationary stance. Japan-exposed funds like $EWJ sit directly in the path of that long-end selloff.