February 05, 2024 01:00 GMT
MNI BRIEF: BOJ Offers To Buy JPY9 Trln JGBs To Lower Repo Rates
(MNI) Tokyo
(MNI) TOKYO
The Bank of Japan on Monday offered to buy a total of JPY9 trillion of Japanese government bonds under repurchase agreements to cope with the rise of the tomorrow next repo rates caused by temporary strong fund demand.
The BOJ at its regular operation time offered to buy JPY5 trillion of JGBs under a repurchase agreement ending on Tuesday and an additional JPY4 trillion of JGBs under a repurchase agreement starting on Tuesday and ending on Feb 16.
The operations were expected by bond players following high repo rates on Friday.
The 10-year JGBs traded at 0.710%, up 0.050% from Friday’s close, due to the rise in U.S. Treasury bond yields following strong jobs data.
Keep reading...Show less
112 words