According to CoinMeta, Japan will issue 10-year government bonds on September 1st and 30-year government bonds two days later. Analysts point out that any signs of weak auction demand could spread to the U.S. bond market. In recent years, the connection between the U.S. and Japanese bond markets has become increasingly close; last year, the yield on Japan's ultra-long-term government bonds soared and was transmitted to the U.S. bond market. As the size of U.S. debt exceeds $40 trillion and borrowing costs rise significantly, the related risks may be even higher, potentially triggering a "vicious cycle." Andrew Ticehurst, a senior interest rate strategist at Nomura Holdings in Sydney, stated that the market will closely monitor the upcoming Japanese government bond auctions. If the auctions perform poorly, Japanese bond yields will rise, which may make the Japanese market more attractive to domestic investors and further push up U.S. bond yields.