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![KobeissiLetter Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::3316376038.png) The Kobeissi Letter [@KobeissiLetter](/creator/twitter/KobeissiLetter) on x 948.5K followers
Created: 2025-07-15 01:29:05 UTC

Just how broken is Japan's bond market?

Japan has a policy rate of XXXX% and a Debt-to-GDP of 250%+.

Germany has a policy rate of XXXX% (4.5x higher) and a Debt-to-GDP of XX% (1/4).

However, 30Y Government Bonds in Germany and Japan both yield ~3.1%.

This does not add up.

![](https://pbs.twimg.com/media/Gv3HDMMXAAAlt_e.png)

XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1944932195652555059/c:line.svg)

**Related Topics**
[germany](/topic/germany)
[fed rate](/topic/fed-rate)
[japan](/topic/japan)

[Post Link](https://x.com/KobeissiLetter/status/1944932195652555059)