🏦 **BlackRock: Global Rates Reset — Japan Confirms the Shift**
BlackRock's latest weekly commentary says long-dated Japanese government bond yields have converged toward levels seen in other developed markets, which it views as confirmation that a structural reset in global interest rates is underway; the firm notes over 80% of major global fixed income assets now yield above 4%, up from just 6% five years ago.

**Why it matters:** Higher, more dispersed global yields give investors more ways to source durable income without relying on long-duration government bonds, which BlackRock says no longer provide the same reliable portfolio ballast during risk-off periods.
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