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The yield on Japans 40-year government bonds fell 12 basis points to 3.6%.Market news: Kazakhstan expects its marketable natural gas production to reach 2.74 billion cubic meters in 2026.According to Interfax news agency: The Russian delegation to the Ukraine negotiations has arrived in Geneva.February 17th - According to foreign media reports, Japans finance ministry forecasts that annual bond issuance may increase by 28% over the next three years due to rising debt financing costs. This result casts doubt on Prime Minister Sanae Takaichis claim that Japan can achieve tax cuts without increasing debt. It is estimated that in the fiscal year beginning April 2029, Japan will need to issue up to 38 trillion yen (approximately US$248.32 billion) in bonds to fill the gap caused by spending exceeding tax revenue, an amount higher than the 29.6 trillion yen in fiscal year 2026. While tax revenue is expected to continue to grow, this revenue will still be insufficient to cover increasing expenditures. Rapidly aging populations and rising long-term interest rates will drive up social welfare and debt repayment costs. Debt servicing costs for fiscal year 2029 are projected to reach 40.3 trillion yen, higher than the 31.3 trillion yen in fiscal year 2026, accounting for approximately 30% of total spending, highlighting the pressure that rising bond yields are putting on Japans finances.Market news: Japans Ministry of Finance predicts that, due to rising debt issuance costs, Japans bond issuance in fiscal year 2029 may reach 38 trillion yen, a 28% increase compared to fiscal year 2026.

Crypto Prices Slump Over the Weekend

Skylar Shaw

May 09, 2022 09:59

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The Bitcoin market dropped over the weekend, matching the stock market's decline.


According to CoinDesk pricing, the world's biggest cryptocurrency, bitcoin, plummeted to $34,656 on Sunday afternoon, down 3.9 percent from Friday evening. Bitcoin fell below $34,000 earlier this afternoon, about half of its all-time high of $67,802 set in November.


Ethereum, the second-largest cryptocurrency, was trading at about $2,565 on Sunday afternoon, down 5.1 percent from Friday at 5 p.m. EDT.


Bitcoin and other cryptocurrencies are notorious for their wild price volatility. 


For years, individual investors dominated the market, but institutional investors, such as hedge funds and money managers, have begun to take control.


The market has become more aligned with regular markets as more professional investors trade crypto. Many institutional investors that acquire cryptocurrencies see them as high-risk investments, akin to equities in the technology sector. During periods of market turmoil, investors prefer to flee to safer areas.


Last week, the stock market fell the day after the Federal Reserve issued a half-point rate hike, the largest since 2000, to combat inflation. Additional rate hikes are possible this summer, according to Fed Chairman Jerome Powell. 


Some of the central bank's $9 trillion asset portfolio is also being unwound.


The Nasdaq Composite, which is heavily weighted in technology, fell to a 52-week low of 12144.66 on Friday. It is down 22% so far this year.


For most of 2022, cryptocurrency prices remained flat as investors braced for higher interest rates. According to CoinMarketCap, the crypto market was busy over the weekend, with $112 billion in market volume in a 24-hour period. The total value of the cryptocurrency market is currently $1.59 trillion.

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