Thomson Financial News - If there were no subprime market troubles, the bond market would likely react by way of a sell-off to an expected rise in CPI. But since the Bank of Japan has paused in normalizing interest rates due to overseas factors such as unstable financial markets and risks of (a slowing) US economy, as well as a slump in (Japan's) housing market as it was hit by a revised construction law, CPI may have only little impact on the market.