Bank of Japan Intervenes To Smooth Yields, and China's Stimulus Speculation
Bloomberg Daybreak: Europe Edition
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The Bank of Japan's Unscheduled Purchases Hit Their Highest Level in Nine Years
The Bank of Japan has stepped into the bond markets with unscheduled purchases to bring down yields which hit their highest level in nine years. The central bank bought bonds worth $2.1 billion after the 10-year yield rose above 0.6%. It comes after the B.O.J adjusted its policy on Friday to allow the benchmark rate to climb as high as 1%. Mastercard's Asia-Pacific Chief Economist David Mann sees it as a slow move to leave yield curve control.
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