According to CoinMeta, the demand for Japanese five-year government bond auctions reached a new high since June 2025, with a bidding ratio of 4.15, which is higher than the previous level of 3.43 and the average of 3.34 over the past 12 months. The closing price was 0.02, lower than 0.03 last month. Recently, the yield on Japanese government bonds has continued to rise, and the market expects a 75% probability of the Bank of Japan raising interest rates before September. The yield on 30-year U.S. government bonds has risen to its highest level in nearly 20 years, reflecting investors' concerns about the surge in government spending and ongoing inflation.