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Free AccessREPEAT: MNI: BOJ Ups Scale Of 1-3 And 3-5 Year JGB Buying Ops
Repeats Story Initially Transmitted at 02:48 GMT Sep 4/22:48 EST Sep 3
TOKYO (MNI) - The Bank of Japan Tuesday conducted purchases of Japanese
government bonds with remaining maturities of 1 to 3 years and 3 to 5 years,
increasing the size over the previous comparable operations.
Purchases of JGBs in the 1 to 3 year basket were increased to Y300 billion
from Y250 billion on Aug 31, while purchases in the 3 to 5 year sector increased
to Y350 billion from the Y300 billion seen on the same day.
The increased purchases in the shorter maturity ranges, expected by some
bond market participants, were based on the outline of outright JGB purchases
released by the BOJ on Friday.
The BOJ has said it decided to reduce the frequency of its purchases of
JGBs with a remaining life of 1 to 10 years in September, although it raised the
upper end of the buying range.
The decision was based on there being fewer business days in September
compared with August and reflected the BOJ's stance to conduct bond buying
operations in a flexible manner.
The number of bond buying operations with a remaining life of 1 to 3 years,
3 to 5 years and 5 to 10 years was reduced to five times in September for each
bucket, down from six in August. However, the upper end of their buying range
for each operation was increased by Y100 billion to Y400 billion for 1 to 3
years, Y450 billion for 3 to 5 years and to Y600 billion for 5 to 10 years.
--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
To read the full story
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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.