German bonds are exacerbating the crisis in the debt markets

The global bond sell-off continued in Asian markets on Thursday, pushing Japanese government bond yields to their highest in more than a decade. The yield on Japan's 10-year bonds reached 1.5% for the first time since June 2009, while U.S. Treasury securities showed an increase in yields to 4.3%.

The situation worsened after a sharp drop in the value of German bonds. The yield on 10-year bonds rose by 31 basis points on Wednesday, marking the largest jump since 1990. Against this background, European stock indexes strengthened, and stock futures rose 0.7%.

Debt markets are further pressured by geopolitical instability, including weakening U.S. support for Ukraine and reports of new tariffs. Pressure is also increasing due to Germany's economic policy aimed at increasing defense spending.

Analysts expect the ECB to lower its key rate by 0.25%. In anticipation of such measures, the Hang Seng China Enterprises index rose 3.3%, reflecting investor optimism about the upcoming economic support.