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Japan’s government must demonstrate a commitment to fiscal rehabilitation to boost the credibility of government bonds and prevent a spike in long-term yields as soaring stocks damp the allure of the nation’s sovereign debt, Economy Minister Akira Amari said.

“As stocks have rallied this much, it’s a common economic phenomenon and principle that capital shifts from bonds to stocks,” Amari said on NHK Sunday. “We need to enhance the credibility of government bonds to prevent a rise in long-term yields.”

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