Yes, they are reporting about the panic in Japan because the aggressive action by their central bank has caused mortgage rates to skyrocket:

Bank of Japan Governor Haruhiko Kuroda’s stimulus policies are backfiring in the housing market, where mortgage rates are rising even as the central bank floods the financial system with cash.

While 35-year home-loan costs rose one basis point to 1.81 percent this month from an all-time low of 1.8 percent in April, any increase will be undesirable for the BOJ, according to Mizuho Securities Co. Federal Reserve Chairman Ben S. Bernanke’s monetary easing almost halved 30-year U.S. mortgage rates since 2008 to 3.35 percent on May 2.

Yes, one whole basis point (0.01%), and government debt rose by 4.5 basis points (0.045%).

Obviously, Abenomics, the idea of explicitly targeting increased inflation to attempt to defeat a decades long deflationary spiral, is a complete failure, after only 5 months, because interest rates rose by one basis point.

Anyone have a sense that this news organization has been determined to write this story since December, and used this as an excuse to push their agenda?

H/t Tim Duy’s Fed Watch.