{"id":63577,"date":"2026-02-09T10:20:53","date_gmt":"2026-02-09T10:20:53","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=63577"},"modified":"2026-02-09T23:18:53","modified_gmt":"2026-02-09T23:18:53","slug":"japan-on-a-new-course","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/","title":{"rendered":"Japan&#8217;s Debt Trap"},"content":{"rendered":"<h4>Key Points<\/h4>\n<ul>\n<li>Japanese PM Sanae Takaichi led her Liberal Democratic Party to a resounding 316 out of 465 seats win in Sunday&#8217;s snap election for Japan&#8217;s lower house.<\/li>\n<li>The Yen strengthened, and long-term bond yields declined on the result.<\/li>\n<li>The Japanese government is in a debt trap caused by precarious debt levels, negative real interest rates, a weakening Yen, and rising inflation.<\/li>\n<\/ul>\n<hr \/>\n<p>Japanese Prime Minister Sanae Takaichi delivered the country&#8217;s first post-war supermajority in Sunday&#8217;s snap election. Her Liberal Democratic Party won 316 out of 465 seats in Japan&#8217;s powerful lower house.<\/p>\n<p>The arch-conservative leader has pledged to suspend the 8% sales tax on food, called for a return to the large-scale fiscal stimulus deployed by former Prime Minister Shinzo Abe (2006-2007 and 2012-2020), and wants to revise Japan&#8217;s pacifist constitution. (Reuters)<\/p>\n<p>The Japanese Yen strengthened against the Dollar, but remains in a long-term downtrend. The Yen has weakened considerably since Takaichi&#8217;s appointment in October 2025. However, currency markets hope that Takaichi&#8217;s resounding victory will ease pressure to adopt populist policies.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jpy.png?resize=525%2C404&#038;ssl=1\" alt=\"Japanese Yen\" width=\"525\" height=\"404\" \/><\/p>\n<p>Japan has struggled to recover since industrial production plateaued in the 1990s.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jp-ind-prodn.png?resize=525%2C295&#038;ssl=1\" alt=\"Japanese Industrial Production\" width=\"525\" height=\"295\" \/><\/p>\n<p>Japanese fiscal debt ballooned as the government ran large deficits to stimulate the economy. Now, fears of rising inflation have driven up long-term interest rates, threatening a fiscal crisis as debt-servicing costs rise.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jp-fiscaldebt-gdp.png?resize=525%2C295&#038;ssl=1\" alt=\"Japanese Fiscal Debt to GDP\" width=\"525\" height=\"295\" \/><\/p>\n<p>Takaichi seeks to follow a fiscal path similar to that of Japan&#8217;s longest-serving prime minister, Shinzo Abe, with large-scale fiscal stimulus now known as &#8220;Abenomics.&#8221; However, inflation is much higher than during Abe&#8217;s tenure, which ended in 2020. Japanese core CPI excluding food and energy (termed &#8220;core core&#8221; in Japan), remains stubbornly high at 2.9%.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jp-cpi-corecore.png?resize=525%2C359&#038;ssl=1\" alt=\"Japanese CPI Inflation Excluding Food &amp; Energy\" width=\"525\" height=\"359\" \/><\/p>\n<p>The Bank of Japan has slow-walked the pace of increases in its policy rate, which remains deeply negative at -2.15% (0.75% minus 2.9%), heightening fears of high inflation.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-09-boj-rate.png?resize=525%2C295&#038;ssl=1\" alt=\"Bank of Japan Policy Rate\" width=\"525\" height=\"295\" \/><\/p>\n<p>Rising Japanese interest rates, accompanied by a weakening Yen, have alerted bond markets to a potential fiscal crisis. Rising rates typically strengthen the domestic currency by attracting inflows of foreign capital. The weakening Yen warns of the opposite: capital outflows despite higher interest rates, as bond markets are wary of inflation risk.<\/p>\n<p>Bond markets are demanding increased compensation for inflation risk, with the 30-year Japanese bond yield climbing above 3.75% before retracing to test support at 3.5% after the snap election result.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jp30y.png?resize=525%2C321&#038;ssl=1\" alt=\"30-Year JGB Yield\" width=\"525\" height=\"321\" \/><\/p>\n<p>Japanese stocks have also soared on expectations of higher inflation, with the Nikkei 225 index in a strong uptrend.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-09-n225.png?resize=525%2C404&#038;ssl=1\" alt=\"Nikkei 225 Index\" width=\"525\" height=\"404\" \/><\/p>\n<h2>Conclusion<\/h2>\n<p>Japanese Prime Minister Sanae Takaich&#8217;s resounding victory in Sunday&#8217;s snap election provides her with the political cover needed to make the tough decisions necessary to avoid a fiscal crisis. Whether she is sufficiently pragmatic to seize this opportunity will become evident in the months ahead.<\/p>\n<p>Japan is in a debt trap.<\/p>\n<p>The pursuit of large fiscal stimulus risks a budgetary crisis as higher inflation drives up bond yields, threatening a budget blowout. Intervention by the Bank of Japan to suppress long-term interest rates through large bond purchases would risk a currency crisis, with a collapse of the Yen.<\/p>\n<p>Japan&#8217;s long-term bond yields are artificially low, supported by the Bank of Japan&#8217;s large-scale bond purchases. The chart below from Robin Brooks compares JGB 30-year yields (JP) with the yield on Germany&#8217;s 30-year Bund (DE). Both bonds offer similar yields despite substantial differences in the two countries&#8217; debt-to-GDP ratios.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jp30y-de30y.png?resize=492%2C431&#038;ssl=1\" alt=\"30-Year JGB Yield vs. German 30-Year Yield\" width=\"492\" height=\"431\" \/><\/p>\n<p>We expect that the Yen will continue to weaken until the above disparity is rectified, with capital flowing out of Japan into more secure markets.<\/p>\n<p>A weak Yen, or higher Japanese interest rates, has far-reaching implications beyond Japan&#8217;s domestic bond market. Japanese investors hold $11 trillion of international investments. Rising domestic interest rates, a falling Yen, or attempts to support the Yen by selling reserve assets \u2014 can destabilize international capital markets, driving up long-term bond yields.<\/p>\n<h4>Acknowledgments<\/h4>\n<ul>\n<li>Trading Economics: <a href=\"https:\/\/tradingeconomics.com\/japan\/cpi-core-core\">Japan CPI<\/a><\/li>\n<li>Reuters: <a href=\"https:\/\/www.reuters.com\/commentary\/breakingviews\/take-japans-triumphant-sanae-takaichi-her-word-2026-02-09\/\">Take Japan&#8217;s triumphant Sanae Takaichi at her word<\/a><\/li>\n<li>Yardeni Research: <a href=\"https:\/\/yardeni.com\/charts\/japan-country-briefing\/\">Japan<\/a><\/li>\n<li>Robin Brooks: <a href=\"https:\/\/substack.com\/inbox\/post\/182156358\">Japan&#8217;s Yen Debasement<\/a><\/li>\n<li>Reuters: <a href=\"https:\/\/www.reuters.com\/data\/yen-crisis-tracker-2026-02-03\/\">Yen Crisis Tracker<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key Points Japanese PM Sanae Takaichi led her Liberal Democratic Party to a resounding 316 out of 465 seats win in Sunday&#8217;s snap election for Japan&#8217;s lower house. The Yen strengthened, and long-term bond yields declined on the result. The Japanese government is in a debt trap caused by precarious debt levels, negative real interest &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Japan&#8217;s Debt Trap&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,45,46,13,17,6165],"tags":[7067,109,7157,962,7156,7162,7155,1934,7158,7160,7161,1935,2479,7159],"class_list":["post-63577","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-debt-levels","category-deficit-spending-employment","category-inflation-economy","category-japan-korea","category-japanese-yen","tag-30-year-jgb-yield","tag-abenomics","tag-bank-of-japan-policy-rate","tag-debt-crisis","tag-debt-to-gdp-ratio","tag-election-victory","tag-german-30-year-yield","tag-japan","tag-japanese-cpi-inflation-excluding-food-energy","tag-japanese-industrial-production","tag-japanese-prime-minister-sanae-takaichi","tag-japanese-yen","tag-nikkei-225-index","tag-shinzo-abe"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Japan&#039;s Debt Trap - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Japan&#039;s Debt Trap - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Key Points Japanese PM Sanae Takaichi led her Liberal Democratic Party to a resounding 316 out of 465 seats win in Sunday&#8217;s snap election for Japan&#8217;s lower house. 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The Japanese government is in a debt trap caused by precarious debt levels, negative real interest &hellip; Continue reading \"Japan&#8217;s Debt Trap\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_author":"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","article_published_time":"2026-02-09T10:20:53+00:00","article_modified_time":"2026-02-09T23:18:53+00:00","og_image":[{"url":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jpy.png","type":"","width":"","height":""}],"author":"Colin Twiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Colin Twiggs","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/"},"author":{"name":"Colin Twiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454"},"headline":"Japan&#8217;s Debt Trap","datePublished":"2026-02-09T10:20:53+00:00","dateModified":"2026-02-09T23:18:53+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/"},"wordCount":639,"commentCount":0,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jpy.png","keywords":["30-Year JGB Yield","abenomics","Bank of Japan Policy Rate","debt crisis","Debt-to-GDP Ratio","Election Victory","German 30-Year Yield","Japan","Japanese CPI Inflation Excluding Food &amp; Energy","Japanese Industrial Production","Japanese Prime Minister Sanae Takaichi","Japanese yen","Nikkei 225 Index","Shinzo Abe"],"articleSection":["Banks &amp; Interest Rates","Debt Levels","Deficit Spending &amp; Employment","Inflation","Japan &amp; Korea","Japanese Yen"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/","name":"Japan's Debt Trap - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/#primaryimage"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jpy.png","datePublished":"2026-02-09T10:20:53+00:00","dateModified":"2026-02-09T23:18:53+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/#primaryimage","url":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jpy.png","contentUrl":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-02-09-jpy.png"},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/09\/japan-on-a-new-course\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"Japan&#8217;s Debt Trap"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. 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","publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thepatientinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/thepatientinvestor.com\/#organization","name":"The Patient Investor Pty Ltd","url":"https:\/\/thepatientinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","width":250,"height":250,"caption":"The Patient Investor Pty Ltd"},"image":{"@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61572934660810","https:\/\/www.instagram.com\/colin_thepatientinvestor"]},{"@type":"Person","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454","name":"Colin Twiggs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","caption":"Colin Twiggs"},"description":"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-gxr","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":63208,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/11\/27\/japans-debt-trap\/","url_meta":{"origin":63577,"position":0},"title":"Japan&#8217;s debt trap","author":"Colin Twiggs","date":"November 27, 2025","format":false,"excerpt":"Key Points The yield on 30-year Japanese government bonds is rising steeply. Suppressing the yield would risk a Yen devaluation spiral and rising inflation. Allowing yields to rise would protect the Yen but threaten a funding crisis. Japanese government debt was 237 percent of GDP at the end of 2024,\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Japanese Public Debt-to-GDP","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-25-jp-debt-gdp.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-25-jp-debt-gdp.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-25-jp-debt-gdp.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":63132,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/11\/20\/carry-trades-at-risk-as-japanese-bond-market-revolts\/","url_meta":{"origin":63577,"position":1},"title":"Carry trades at risk as Japanese bond market revolts","author":"Colin Twiggs","date":"November 20, 2025","format":false,"excerpt":"Key Points The Japanese yen fell to 158 against the dollar. The 30-year JGB yield climbed to 3.37% on concerns over loose fiscal and monetary policy. Unwinding carry trades risks a repeat of the August 2024 financial market sell-off. The Japanese yen has weakened sharply to 158 against the dollar.\u2026","rel":"","context":"In &quot;Japan &amp; Korea&quot;","block_context":{"text":"Japan &amp; Korea","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/japan-korea\/"},"img":{"alt_text":"Japanese Yen","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-19-jpy.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-19-jpy.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-19-jpy.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":64955,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/06\/16\/japans-debt-trap-2\/","url_meta":{"origin":63577,"position":2},"title":"Japan&#8217;s Debt Trap","author":"Colin Twiggs","date":"June 16, 2026","format":false,"excerpt":"Key Points The Bank of Japan hiked its policy rate to 1.0% after a long pause. The BOJ also paused the taper of its quantitative easing (QE) program. Japanese government debt is at a precarious 200% of GDP. The Japanese Yen is testing resistance at 160 against the Dollar. The\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Japanese Govt 3-Month Bill Discount Rate","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-06-16-boj-rate.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-06-16-boj-rate.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-06-16-boj-rate.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":62539,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/10\/07\/why-gold-bitcoin-sp500-are-climbing\/","url_meta":{"origin":63577,"position":3},"title":"Why Gold, Bitcoin, and S&#038;P500 are all climbing","author":"Colin Twiggs","date":"October 7, 2025","format":false,"excerpt":"Key Points Global investors seek safety in assets that are a hedge against inflation. The September ISM Services PMI warns of a slowing economy but rising prices. Major developed economies are running their economies hot, stoking bond market fears of inflation. Major asset classes, with the exception of bonds, are\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-10-06-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-10-06-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-10-06-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":63098,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/11\/19\/japans-debt-is-a-global-problem\/","url_meta":{"origin":63577,"position":4},"title":"Japan&#8217;s debt is a global problem","author":"Colin Twiggs","date":"November 19, 2025","format":false,"excerpt":"Key Points Japan's GDP contracted 1.8% in the third quarter due to tariffs. A Japanese government advisory panel proposes a 25 trillion yen ($161 billion) supplementary budget to fund stimulus. The Yen weakened, and 30-year JGB yields climbed to 3.35%. German Bund yields are also rising, increasing pressure on long-term\u2026","rel":"","context":"In &quot;Fixed Income&quot;","block_context":{"text":"Fixed Income","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/fixed-income\/"},"img":{"alt_text":"US Net International Investment Position","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-17-us-niip.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-17-us-niip.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-17-us-niip.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":63407,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/12\/19\/bank-of-japan-hikes-interest-rate-to-30-year-high\/","url_meta":{"origin":63577,"position":5},"title":"Bank of Japan hikes interest rate to 30-year high","author":"Colin Twiggs","date":"December 19, 2025","format":false,"excerpt":"Key Points The Bank of Japan hiked its policy rate by 25 basis points to 0.75%. Annual inflation remains high, with CPI at 2.9% and 3.0% excluding food and energy. The BOJ expects inflation to gradually heighten. The Bank of Japan hiked its policy rate by 25 basis points to\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Japanese Yen","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-12-19-jpy2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-12-19-jpy2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-12-19-jpy2.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/63577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=63577"}],"version-history":[{"count":7,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/63577\/revisions"}],"predecessor-version":[{"id":63585,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/63577\/revisions\/63585"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=63577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=63577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=63577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}