40 yr JGB yield hits 16 yr high/The rate move impact on those in real estate/Other things

Following the US rate rise yesterday, yields in Asia jumped, particularly in Japan and Australia and they are moving up again in Europe. The epic bond bubble was global when $18 trillion of negative yielding securities reached its apex in December 2020 and the unwind and bear market is global too. In particular, the Japanese 40 yr bond yield rose to the highest level since 2008 overnight and I continue to focus on this maturity because it is least influenced by what the BoJ does on the short end. A factor too in Japanese yields was the higher than expected October PPI print where it rose 3.4% y/o/y, above the estimate of up 2.9% with the weaker yen likely a factor. The yen today by the way is teasing the 155 level again with 160 the real big level. 

At a Yahoo Finance event yesterday, Neel Kashkari spoke and this stood out to me on the Fed's balance sheet where he basically said that the bar is quite high for them to stop shrinking it. 

JGB 40 yr Bond Yield

These comments from VICI Properties, a REIT we own that focuses on the gaming and experiential side of real estate ownership, came on November 1st's earnings call but I finally got around to read the transcript and it reveals the real world impact on the real estate industry from these meme like moves in the US Treasury market and the swift rise in rates seen over the past few months just as many thought that Fed rate cuts were going to ease the rate pain.