Japan’s bond market has cried wolf before. Is the wolf arriving this time?
Published on: May 18, 2026, 6:20 a.m. | Source: The Economic Times
Markets have been warned about “Japans moment” many times. So many, in fact, that it had begun to sound like background noise. The boy who cried wolf analogy fits: The first alarm gets attention, the next one gets a shrug, and then the real event arrives when few people are listening. Japans is not a local bond story, it is a global tightening variable, through funding costs, currency dynamics, and the allocation choices of one of the worlds largest pools of patient savings. That is why, even if it is crying wolf yet again, it is a warning that probably deserves attention.
