U.S. Treasury Secretary Benson: Market Turbulence Originates from Abnormalities in Japanese Bond Market, Unrelated to Greenland

U.S. Treasury Secretary Benson recently stated that the recent downward pressure on global markets mainly stems from abnormal fluctuations in Japan's bond market. Over the past two days, Japan's 10-year government bonds experienced a rare six-standard-deviation swing, triggering a chain reaction in global bond markets.

Global Impact of Japan's Market Volatility

Benson noted that the sharp fluctuations in Japan's bond market have spread globally, causing bond yields in Germany, France, and the United States to rise. In a statement, he mentioned that he has been in communication with Japan's economic authorities and urged them to take necessary actions to stabilize the situation.

• Japan's 10-year government bonds experienced a six-standard-deviation swing
• German bond yields increased
• French bond yields increased
• U.S. bond yields also rose

Clarifying Market Misconceptions

Despite various speculations in the market, Benson clearly stated that the current turbulence has no connection to any events in Greenland. He emphasized that the core issue lies in the stability of Japan's domestic bond market.