The yield on Japan's 10-year government bond, a key indicator of the country's long-term interest rates, climbed to 1.9 percent on Thursday, marking its highest level since July 2007.
According to local media, as the market expects the Bank of Japan to continue raising rates in stages, government bonds were sold off, leading to a rise in long-term interest rates.
At present, the market expects about an 80 percent probability that the Bank of Japan will decide to raise interest rates at its meeting on Dec 19, whereas two weeks ago the probability of a December hike was only 30 percent.
With government bonds yielding higher interest rates, Japan faces escalating interest payments that could strain public finances and divert resources from essential social services. The International Monetary Fund has projected that Japan's deficit will rise to 4.4 percent of gross domestic product by 2030.
Japan’s 10-year gov't bond yield hits highest level since mid-2007
Iran's Foreign Ministry on Wednesday dismissed U.S. President Donald Trump's remarks about Iran seeking a ceasefire as "false and baseless," according to state-run Press TV.
Foreign Ministry spokesman Esmaeil Baghaei pushed back against Trump's remarks on social media platform Truth Social that the Iranian president "has just asked the United States of America for a ceasefire."
Trump added, "We will consider when the Hormuz Strait is open, free, and clear. Until then, we are blasting Iran into oblivion or, as they say, back to the Stone Ages!"
Trump has repeatedly claimed in recent days that Iran is seeking negotiations to end the war.
Iranian Foreign Minister Seyed Abbas Araghchi acknowledged that messages have been exchanged between Iran and the United States through intermediaries over the past few days, but stressed that no negotiations have taken place.
On the same day, Masoud Pezeshkian, Iran's President, released a letter addressed to the American people, saying the Iranian people harbor no enmity toward American people, accusing the U.S. administration of fighting Iran as a "proxy for Israel."
"The Iranian people harbor no enmity toward other nations, including the people of America, Europe, or neighboring countries," Pezeshkian said, adding, "Even in the face of repeated foreign interventions and pressures throughout their proud history, Iranians have consistently drawn a clear distinction between governments and the peoples they govern."
In response to Trump's threats of conducting large-scale strikes on Iranian energy facilities, he said attacking the country's vital infrastructure directly targets the Iranian people, stressing that such actions constitute "war crimes" and involve consequences extending beyond Iran's borders.
Israel and the United States launched joint attacks on Tehran and several other Iranian cities on Feb. 28, killing Iran's then Supreme Leader Ali Khamenei, along with senior military commanders and civilians. Iran responded with waves of missile and drone strikes against Israel and U.S. assets in the Middle East, while tightening control over the Strait of Hormuz by restricting passage to vessels belonging to or affiliated with Israel and the United States.
Wednesday's report by The Telegraph quoted Trump as saying he was strongly considering pulling the United States out of the North Atlantic Treaty Organization (NATO) after the alliance failed to join the attacks on Iran.
Trump expressed dissatisfaction with NATO for "not being there," saying it was "actually hard to believe."
Responding to the U.S. president's remarks, British Prime Minister Keir Starmer said at a press conference at 10 Downing that Street Britain would act in its national interest and would not change its position on the Iran war.
French President Emmanuel Macron said on Wednesday that France is not taking part in the U.S.-Israel military action. The Elysee Palace also reaffirmed that France's position remains unchanged.
Iran rejects Trump's ceasefire claim as "false and baseless"
