A spike in long-term rates would lower the price of JGBs, destroying household wealth and, in turn, reducing consumer spending. The higher interest rates would also apply to corporate bonds and bank loans, weakening business investment.
长期利率的暴增会压低日本国债的价格，摧毁家庭财富，并反过来抑制消费支出。高利率还会对公司债券和银行贷款产生作用，抑制商业投资。