Japan's government bonds fell during early trading in Tokyo on April 30, following the decline in U.S. Treasury prices overnight. According to Jin10, the price movements of Japanese and U.S. government bonds often align. The ongoing conflict in the Middle East has led to rising oil prices, sparking concerns about increasing inflation within Japan, which may further pressure Japanese bond prices. Analysts from InTouch Capital Markets commented that the situation in the Middle East has heightened uncertainty, with inflation remaining elevated partly due to rising energy prices.