According to CoinMeta, Japanese government bond yields have risen significantly. Analysts believe that it may be reasonable for the Japanese Government Pension Investment Fund (GPIF) to increase its target allocation to domestic bonds in the future. Currently, the fund's target allocation to domestic bonds is 25%, and this ratio could be increased in the future in pursuit of higher returns. From April to June of this year, GPIF has incurred losses in Japanese domestic bond investments for seven consecutive quarters. As the Japanese bond market tumbled, the yield on benchmark 10-year Japanese government bonds approached a 30-year high of 3%, resulting in the aforementioned losses. Koji Okuda, an executive researcher at the Daiichi Life Economic Research Institute, stated, "It is reasonable to consider adjusting the asset allocation ratio when rising yields are improving the expected returns on domestic bonds." As of the end of June, the assets managed by GPIF amounted to approximately 318 trillion yen (about $2 trillion). This means that, theoretically, each 1-percentage-point adjustment in the allocation ratio could correspond to a capital flow of over 3 trillion yen. Koji Okuda noted that after GPIF evaluated factors such as expected returns and risks under various economic scenarios, "increasing the domestic bond allocation ratio to 30% to 35% is worth considering."