Global bond sell-off intensifies, pushing Japan's benchmark yield above 3.1% and hitting Tokyo housing market
The intensifying global bond sell-off led yields higher across Asia on Friday morning, as investors anticipate further monetary tightening by the Fed amid elevated oil prices and faltering hopes for a near-term resolution in the U.S. war with Iran. Average asking prices for existing condominiums in central Tokyo have fallen for four consecutive months through August due to rising interest rates.
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