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According to Odaily, on January 21, Japan's government bond market experienced a large-scale sell-off, with yields on 30-year and 40-year bonds rising by more than 25 basis points in a single day. The yield on the 40-year government bond reached 4%, the highest level since 2007. The market turmoil was triggered by Prime Minister Sanae Takaichi's fiscal plan to cut taxes and increase spending, causing investors to worry about the sustainability of Japan's finances. As a result, the Nikkei 225 Index opened today down 718.60 points, a decrease of 1.36%, at 52,272.50 points. South Korea's KOSPI Index also opened down 74.42 points, a drop of 1.52%, at 4,811.33 points. In addition, US Treasury yields simultaneously rose to multi-month highs.

BlockBeats News, January 21st, a sudden selloff storm hit the Japanese government bond market, with the 30-year and 40-year yields surging more than 25 basis points in a single day, dubbed by traders as the "most chaotic trading day in recent years." Market panic stemmed from Prime Minister Kaneshiro Mana's announcement of "ending fiscal austerity" and proposing a tax cut and spending increase plan, seen by investors as Japan's version of the "Tras Moment." The weak 20-year bond auction intensified a vicious cycle, forcing hedge funds to liquidate positions and putting pressure on life insurance companies. The turmoil quickly spread globally, with U.S. bond yields rising to multi-month highs simultaneously. According to Bitget market data, the Nikkei 225 Index opened today down 718.60 points, a 1.36% decrease, at 52272.50 points. The South Korean KOSPI Index opened today down 74.42 points, a 1.52% decrease, at 4811.33 points. BlockBeats Note: The "Tras Moment" refers to former UK Prime Minister Liz Truss's tenure in 2022, during which she introduced a large-scale tax cut + spending increase policy without a clear funding source, leading to instant market panic, a sharp drop in the pound, surging bond yields, the financial system on the brink of collapse, and ultimately forcing her to resign after only 49 days in office, becoming synonymous with "market punishment for fiscal radical policy + leader's swift downfall."

The prediction market set a record this week with $2.7 million in fee revenue, of which opinion markets accounted for 54.3%. Polymarket's 15-minute up/down market contributed $787,000, making up 28.4% of the total fee revenue. (Cointelegraph)