(Bloomberg) -- Market volatility that started in the U.S. and rippled through Asia this week stemmed from rising U.S. Treasury yields, Japan’s central bank governor said.

While the economic fundamentals for the U.S., Europe and Japan haven’t changed, a close eye will need to be kept on markets, Bank of Japan Governor Haruhiko Kuroda told reporters Friday during the International Monetary Fund’s annual meetings in Bali, Indonesia.

Speaking at the same press briefing, Finance Minister Taro Aso said frictions over trade featured during Group of 20 discussions. He called on both the U.S. and China to discuss their dispute.

Both Aso and Kuroda are attending IMF, World Bank and G-20 meetings in Bali, where trade frictions and concerns over capital outflows from emerging markets have been a recurring topic.

--With assistance from Sarah McGregor.

To contact the reporter on this story: Yuko Takeo in Tokyo at ytakeo2@bloomberg.net

To contact the editors responsible for this story: Brett Miller at bmiller30@bloomberg.net, Henry Hoenig, Malcolm Scott

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