Japan's government bond market hit another turbulent session as traders rejected Sanae Takaichi's fiscal proposals. The 40-year yield surged past the 4% mark—a historic break, as no maturity in Japan's sovereign debt has breached this level in over 30 years. The selloff was particularly sharp as market participants digested the potential tax-cut measures on food items, sparking broader concerns about fiscal sustainability. This kind of yield shock in a major developed economy typically signals growing unease about inflation and policy direction, dynamics that ripple across global markets and influence risk appetite in alternative asset classes.