Surveillance: BOJ Jolt with BNY Mellon's Yu
Bloomberg Surveillance
00:00
Normalization of the Global Bond Market
One basis point in the US in bonds is not equivalent to one basis point in JGB 10 years. The more that it's going to move, then if you assume the process is going to be linear, then the stronger the reaction will be. Japanese investors have been retreating from Europe for some time now, they've been retreating from the US on a relative basis and China's been retreating as well. So, I need to think about a new floor in the global bond market when it comes to yields, Jeff. How are you thinking about that now?
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