Free Trial

MNI BRIEF: BOJ's Unscheduled Bond Buying To Curb Higher Yields

(MNI) Tokyo

The Bank of Japan conducted an unscheduled government bond buying operation on Wednesday to curb higher bond yields following an overnight rise in global bond yields.

The BOJ offered to buy JPY150 billion of JGBs with a remaining life of 5 to 10 years and JPY100 billion of JGBs with a remaining life of 10 to 25 years.

The operations were somewhat expected by bond players as JGB yields have remained at elevated levels amid concern over aggressive rate hikes by the Federal Reserve.

Despite a weak yen, the BOJ is expected to stand pat on monetary policy at its two-day policy-setting meeting ending on Thursday.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
True
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.