Domestic bond yields have risen sharply and as a result utilities have lost their attractiveness.

It looks like demand for high-quality steel remains strong and supply remains limited.

Sumitomo Mitsui owes more than the other banks, yet its profitability is very good. It's not surprising it wants to show it's eager to pay the debt as soon as possible. Owing the government gives a bad impression.

The important thing is that global growth continues. Demand for technology goods remains strong.

So far, Japanese shares have risen together with a rise in long-term bond yields.

Banks and utilities are high dividend-yield spaces and they become less attractive as bond yields rise. It's normal in an environment of rising bond yields to see stock markets correct.