BOJ boosts bond buying for fourth day to cap rise in yields
The Bank of Japan’s decision to double its 10-year yield ceiling was meant to improve market functioning. So far it’s triggered even heavier intervention from the central bank, threatening to reduce liquidity further in the local bond market.
By Masaki Kondo and Matthew Burgess / Bloomberg
The BOJ announced a fourth day of unscheduled bond buying Wednesday, offering to buy unlimited amounts of two- and five-year notes and to purchase JPY 600bn (USD 4.6bn) of one-to-25 year bonds. The announcement came in addition to its outstanding daily offer to buy unlimited quantities of 10-year securities and those linked to futures at 0.5%, the new cap for benchmark yields.
Already a subscriber?Log in here
Read the whole article
Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
Get full access for you and your coworkers
Start a free company trial todayRelated articles
JPMorgan, Goldman say stocks recovery won’t be easy in 2023
For subscribers
