According to CoinMeta, Japan's Ministry of Finance is selling over 5.65 trillion yen in U.S. Treasury bonds in order to cope with pressures in the currency and bond markets. Meanwhile, China is also reducing its exposure to government bonds and increasing its gold reserves. The sale of Japanese government bonds may increase pressure on the global bond market, although it is not yet certain whether this will lead to a financial collapse. Japan's stock market has entered a bear market, with losses exceeding 15%, and bond losses are estimated to be over 30 trillion yen. In order to support the yen and defend its currency, the sale of Japanese government bonds has reached an unprecedented scale.