Japan unleashed a black swan to launch a global market attack. Analysts: Speculation that the Federal Reserve will not cut interest rates in the first half of next year, and Japanese government bond yields continue to rise.

Analysts believe that, on one hand, it is related to the expectation of a rate cut by the Federal Reserve, as news came out today that there will be no rate cut in the first half of next year; on the other hand, it is related to Japanese government bonds. Due to investors weighing the impact of Prime Minister Sanae Takaichi's possible large-scale fiscal stimulus plan, the yield on Japanese 10-year government bonds has climbed to over 1.75%, nearing the highest level since 2008. This could potentially have a significant impact on global liquidity.