Japan Government Bond Yields
Long-term interest rates are rising and show no signs of stopping.
The 10-year yield is at levels last seen on January 6, 2014.
People have grown accustomed to low, flat interest rates because the Bank of Japan (BOJ) has been manipulating them for decades.
I remember a time when many people were understandably cautious about taking out variable-interest mortgages.
But now, all everyone says is, "The BOJ will never raise short-term interest rates."
Government interference causes people to stop thinking rationally.
