U.S. Treasury Secretary: Market decline affected by abnormal fluctuations in the Japanese bond market, unrelated to Greenland

January 21, US Treasury Secretary Yellen stated: “I believe the market downturn is mainly due to abnormal fluctuations of six standard deviations in the Japanese bond market over the past two days, reflected in their 10-year government bonds. I have been in communication with Japan’s economic officials and urged them to take necessary measures to stabilize their bond market. This volatility is spreading to all global bond markets, with German bund yields rising, French government bond yields rising, and US Treasury yields also rising. I want to emphasize again that this is primarily due to issues in the Japanese bond market and has nothing to do with Greenland.”