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TOKYO (MNI) - The Bank of Japan Tuesday cut the size of its purchase of
Japanese government bonds with a remaining life of 10 to 25 years to Y180
billion from Y200 billion at the previous similar operation on Feb. 4.
The decision, expected by some bond players, came after the recent declines
in longer-end bond on the back of strong investor demand.
The reduction in the 10/25-year bucket was the first since July 19, 2018,
when the bank lowered the scale to Y180 billion from Y190 billion, but the bank
increased the scale to Y200 billion from Y180 billion in December.
The 30-year bond yield fell to 0.585% on Feb. 6 -- the lowest level since
December 2016 -- and the 20-year bond yield dropped to 0.410% on Feb. 1, the
lowest level since November 2016.
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