**Four major Japanese life insurance companies** **now hold unrealized bond losses totaling 15 trillion yen** (**$96 billion**), **7% higher than three months ago**.

Yields on Japanese government bonds have surged, crashing the value of older low-yield bonds.

**The yield on 30-year Japanese bonds exceeded 4% in May**, marking a record high.

**[@futures](https://t.me/futures)