Central Banks


Th BOJ has been in the market each day buying Japanese Government Bonds. The BOJ has an upper cap on the 10-year that they have managed to hold since their new ‘buy every day’ policy introduced back at their April policy meeting.

They are managing to hold it at 0.25%, the cap they have in polace, but yields elsewhere are higher.

 Yield  on 10-yr Japanese govt bond unchanged at 0.250%

  • On 2-yr up 1.5 bps at -0.040%
  • On 30-yr up 8 bps at 1.260%
  • On 5-yr up 3.5 bps at 0.070%

The Bank will be bidding on June 15 for:

  • 800bn yen in 5-10 yrs
  • 250bn yen 10-25 yrs
  • 625bn yen 1-3 years to maturity

USD/JPY has popped. BOJ taking action to hold its monetary policy loose. Not joining in the rate hike party elsewhere around the DM globe.



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