0454 GMT - A more cautious investment stance toward JGBs is warranted, given risks that long-term yields may continue to rise, Invesco's Tomo Kinoshita says in an email. If the proposed temporary consumption-tax cut by Japan's PM Takaichi becomes permanent, this will likely weigh on Japan's fiscal situation, the global market strategist says. "Already, Japan's gross government debt stands at 229.6% of GDP at end-2025," Kinoshita says. Hence, worries over Japan's future fiscal health have resulted in an upward trend in long-term JGB yields, which exacerbates fiscal pressures even more via higher debt-servicing costs, Kinoshita adds. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

January 20, 2026 23:54 ET (04:54 GMT)

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