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MNI (London)
     TOKYO (MNI) - The Bank of Japan on Friday made a surprise Japanese
government bond buying operation to lower the yield on the 10-year bonds, which
rose to -0.005%, the highest level since Jan. 22.
     The BOJ offered to buy JPY200 billion of JGBs with a remaining life of 5 to
10 years in a previously unplanned operation.
     The yield on the 10-year bonds rose to -0.005%, compared with Thursday's
close of -0.065%, and the yield fell to -0.025% after the operation.
     The scale of JPY200 billion was smaller than JPY350 billion that the BOJ
last offered to buy but the operation showed that the BOJ saw the rise in the
JGB yield undesirable.
--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com