Japan’s Katayama Denies Need for Extra Budget as Yields Rise

Japanese Finance Minister Satsuki Katayama reiterated that the government doesn’t need to compile an extra budget for now, adding that a recent rise in yields on Japanese government bonds is part of a broader global trend.

“Bond yields have been rising across all three major markets,” Katayama told reporters Friday, citing selloffs in the US, UK and Japan. “These developments are interacting with each other and creating something of a compounding effect,” she said.