Why investors need to watch Japan as a key source of market risk in 2025

• Japan is a key source of risks to global markets in the coming year, BCA Research says.
• Rising Japanese bond yields are a key risk for tech stocks, the firm said.
• Japanese real yields could rise next year as the country pivots from its zero-interest rate policy.

The US stock market’s stability could hinge on developments in Japan’s bond market in 2025, BCA Research said in a recent research report.