The Bank of Japan has adjusted its inflation outlook upward, triggering a visible shift in Japan's shorter-term bond market. Short-dated yields have climbed in response to the central bank's more hawkish stance. This type of policy recalibration typically signals a turning point in global liquidity conditions—worth monitoring if you're tracking how major central bank moves influence capital flows across different asset classes. When inflation expectations rise, bond repricing accelerates, and market volatility often spikes across correlating markets.