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🚨Breaking: Japan has just confirmed intervention to buy large amounts of yen.
The last time the Bank of Japan sold dollars to rescue the yen, global markets experienced a sharp decline.
But this time, the situation is worse.
Japan is currently facing two problems at the same time.
The yield on 10-year Japanese government bonds has risen to 2.52%, the highest since 1999;
the 5-year government bond yield also hit a record high of 1.88%.