Japan’s Katayama Calls for Market Calm After Bond Selloff

Japanese Finance Minister Satsuki Katayama called on market participants to calm down after an intense day of bond selling pushed up long-term government debt yields to the highest levels in decades with ripples reaching other global markets.

“Since last October, our fiscal policy has consistently been responsible and sustainable, not expansionary, and the numbers clearly demonstrate that,” Katayama said Tuesday in an interview with Bloomberg TV’s Haslinda Amin on the sidelines of the World Economic Forum in Davos, Switzerland.