A post by @FirstSquawk on X.

Japanese Nikkei futures climbed 3.2% in early trading while 10-year Japanese government bond futures slipped 0.2 point, signaling a sharp rotation toward equities and away from sovereign debt. The divergence points to rising risk appetite and expectations of higher yields, with bond futures weakening as investors priced in less demand for safe-haven JGBs. The move matters because it suggests markets are reassessing Japan's rate and growth outlook, potentially pressuring the yen and reshaping cross-asset flows. Traders will watch whether the equity rally holds through the cash session and whether JGB weakness extends, with attention on any BOJ commentary or yield moves that could confirm the shift.