BoJ to purchase unlimited 10yr JGBs on Feb 14th at 0.25% (#363, #364 and #365) [intervention to rein in the yield]
Via BoJ
- BoJ says it decided on fixed rate operation given recent yield moves.
- BoJ says will firmly keep policy to keep 10yr yields around 0%.
Reaction details (09:07)
- 10yr JGB yield fell from around 23bps to 21bps after coming close to the BoJ's "line in the sand" at 25bps; with the 10yr JGB Mar'22 future lifting from 150.00 to 150.30 over the course of 5-minutes
- USD/JPY saw a delayed move higher from 115.55 to 115.75 over the course of 5-minutes.
Analysis details (09:12)
- There has been speculation in the last week that the BoJ may step in to control the rising yields as the 10yr moved closer towards the 25bps cap.
10 Feb 2022 - 09:04- Fixed Income- Source: Newswires/BoJ
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