Once Koyuki Katayama’s remarks were released, the market immediately voted with real money— the two-year yield fell by 1bp. Pension fund allocations have always been a slow-moving variable, but their expectations management was quite polished.

CoinMarketNews: Japanese Finance Minister Kaoru Ishii said that if the investment environment undergoes major changes, Japan will consider adjusting the investment portfolio of the Government Pension Investment Fund (GPIF). Her remarks boosted market sentiment, leading to a rise in Japanese government bond prices. Market observers noted that this suggests GPIF may further buy Japanese government bonds in the future. On Tuesday, the yield on two-year Japanese government bonds fell by 1 basis point to 1.435%, the 10-year yield fell by 3 basis points to 2.755%, and the 30-year yield fell by 4.5 basis points to 3.860%.