"Ten-year yields spiked to 2.2%, while 30-year yields hit 3.66%. While the onset of the selloff can’t be pinpointed, it is likely a combination of geopolitical tensions and simmering concerns about Prime Minister Sanae Takaichi’s ¥21.3 trillion ($134 billion) economic plan to bolster Japan’s debt-heavy economy.

This, warned Citadel CEO Ken Griffin, should be a cautionary tale to the U.S., where yields neared the danger benchmark of 5% this week."