Japanese government bonds fell on Monday as the market anticipated that the party of Sanae Takaichi would win the election, leading to tax cuts and expanded stimulus policies. According to Jin10, the yields on 20-year and 5-year Japanese government bonds rose by 2.5 basis points to 3.2% and 1.680%, respectively. SMBC Nikko Securities' senior strategist Ataru Okumura noted that the recent flattening upward trend in the Japanese bond market might reverse. Former senior foreign exchange official Hiroshi Watanabe stated that Japan will continue to face market turbulence due to fiscal policy, with the risk of further tax cuts potentially reigniting a sell-off of bonds and the yen.