According to CoinMeta, the yield on Japan's two-year government bonds is approaching the crucial 2% mark, having risen by 4 basis points to 1.975% on Monday, reaching a new high since 1995. As investors increase their bets on further interest rate hikes by the Bank of Japan (BOJ), Japanese government bonds of other maturities are also under pressure, with the yield on five-year bonds rising by 3 basis points to 2.43%. As pointed out in a report by strategist Nakamura Nakayoshi of Nikko Securities, among others, as Japanese politicians both domestically and internationally pay more attention to the weakening yen, trades betting on the BOJ accelerating its tightening policies are gradually heating up. They stated that fiscal expansion in major economies and rising commodity prices may also further reinforce market expectations that Japan will ultimately need to tighten monetary policy to curb inflation.