. ♪ >>> this is "newsline biz," i'm gene otani. finance ministry says it is more than doubling the coupon rate on ten-year government bonds amid a rapid rise in market yields. the ministry says ten-year bonds to be issued in january will have a coupon rate of 0.5%. the rate has been 0.2% since last april. it has been more than eight years since it was set at 0.5% or higher. the move is in response to the sudden jump in yields. the bank of japan has been pursuing a so called yield curve control policy to keep the rate on the ten-year government bond near zero. its aim was to pin the yield from minus 0.25% to plus 0.25%, but last month the boj adjusted the policy, allowed the yield to move in a range around plus or minus 0.5%. the benchmark yield has been getting closer to the central bank's new upper limits. since then, the change to the coupon rate is not expected to have an immediate impact on government projects. that's because the finance ministry already estimates the rate for bonds servicing costs at 1.1% in the fiscal 2022 bu

. ♪ >>> this is "newsline biz," i'm gene otani.as posted its biggest annual trade deficit on record. the weaker yen and soaring energy prices were mostly to blame. preliminary data released by the finance ministry shows a trade deficit of almost 20 trillion yen for 2022. that's the equivalent of about $155 billion. the deficit is the largest since comparable data became available in 1979. imports surged nearly 40% in yen terms. costs for crude oil, coal and liquified natural gas were up significantly. the weaker yen contributed to the increase. this out paced an 18% rise in exports. nli research instute says japan's exports to the largest trading partner china fell sharply last year. the analyst says beijing's zero covid policy stalled the economy dealing a heavy blow to shipments. cito says the strong manufacturing industry used to bring in money through increased exports but he says this has become difficult to keep up over the past 30 to 40 years. >> translator: when an economy develops, more services become available and the po

i'm gene otani. the value of japan's food exports hit a record in 2022, even before the year ended. figure was boosted by a weak yen and recovering demand in the global restaurant industry. the government says shipments of agricultural, forestry, and fishery products were just over 1.2 trillion yen, about $9.3 billion. they were up over 15% in yen terms from the same period a year earlier. seafood experts jumped. says of scalloped surged by 47%. yellow tail rose almost 40%. alcoholic drinks were also strong. shipments of whiskey and sake were up by about 21%. the government has said it aims to extort 2 trillion yen or about $15 billion a year in the overall category by 2025. it now says it wants to reach that target earlier. >>> the yield on the benchmark 10-year japanese government bond hit 0.5% on friday for the first time in about 7 1/2 years. that's the central bank's newly set upper limit. market sources say many investors are selling jgbs on speculation the bank of japan may soon taper its easy monetary policy. the sources say investors saw a decision late last month by the bo

. ♪ >>> this is "newsline biz," i'm gene otani.sumer price index in japan rose in december at the fastest pace in about four decades. the cpi climbed amid rising energy and raw material costs as well as a weaker yen. japan's internal affairs ministry says consumer prices excluding fresh food rose 4% last month from a year ago. it marks the biggest leap since december 1981 when the country was wrestling with the impact of an oil shock. officials also announced the inflation figure for the full year of 2022. the annual cpi excluding fresh food rose 2.3% from a year ago. the last time the index spiked by this margin was in 2014, but that was triggered by a consumption tax hike and quickly subsided. excluding that, the figure represents the biggest jump since 1991. >>> families with children are finding it particularly hard to absorb the rising prices. a working couple raising a 5-year-old daughter near tokyo say they may have to make sacrifices that will affect their child. the couple say their electricity bill in december was 50% hig

i think steve cohen makes a play for otani too. >> otani at the mets, man, that would be exciting. >>use he does the grocery shopping on saturday morning early when no one's in there and there are no eggs. >>> my dad did that. >> used to be before inflation. >> the man would go out grocery shopping because, mike, you and my dad are two of the only men i know that would go out on saturday mornings. my dad loved it. it was the highlight of his week. >> i do, too, with no list, joe. no list. i do it from eyesight. look at the cupboard before i go, shut the cupboard, go to the store. >> that's really good, mike. >> that's called jazz shopping, man. free form, go where the spirit moves him. >> i don't use a list either. the average price of eggs increased 60% in the last db. >> you have a list. peanut butter and jelly. that's all i need. peanut butter and jelly. iced tea. >> okay. dom chu is going to explain why are eggs so expensive. what is going on? >> why can't we find them? why are they so expensive? >> so, first of all, mika, joe, i, like mike, am also the one that does the grocery s

. >> and you're not signing otani. >> hold on the next opec meeting is june 4th but opec, they resevenrve to meet whenever they want i wouldn't be surprised to hear some rumblings speaking of oil and stocks, we, meaning me, will be live in miami on thursday for the goldman sachs energy and clean tech conference all day on thursday some of our guests include the ceo of chesapeake, the ceo of sun run, the ceo of chenier and the ceo of pioneer natural resources. that is all day long we won't tell you when the interviews are, so you have to watch all day long it is a tough gig but somebody has to do it there is more "fast" to come. >> paypal ringing in the new year with a huge rally one wall street analyst sees more than 20% upside ahead should old acquaintance be for got or is this a red hot buy here we'll discuss next. >>> plus tesla shares hitting the skids to kick off the year but at what point do you consider it a buy? those details are ahead. you're watching "fast money," live from the nasdaq market site in times square. 'rback right after this. siness . it is just right for my little b