The market had been pricing in an early rate hike, and the rise in yields was pretty rapid, so his remarks were likely aimed at stopping that.

Notes due in five years or less look strong.

Japan has become a saturated market. Nissan brought out a lot of new models over a year ago and so now their sales are weakening.

Nissan is the only major Japanese automaker that has suppliers producing modules and parts in a Nissan factory, which helps cut logistics cost and inventory cost.

Investors feel there is no need to aggressively buy bonds now as yields may continue climbing amid signs of solid economic growth.

An expected political vacuum is not something the market is afraid of.