TOKYO -- Japan's big footprint in the U.S. bond market and the time difference between the two countries seem to have fueled the speculation that Japanese agricultural lender Norinchukin Bank was among the sellers in the massive U.S. Treasurys sell-off last week.
Treasury yields shot up as investors dumped the assets last Wednesday after President Donald Trump imposed steep "reciprocal" tariffs on imports from U.S. trade partners. The Trump administration paused much of the levies hours later for countries except China -- a decision many saw as a response to the volatility in the bond market.
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