The Bank of Japan wasted no time signaling their intent of maintaining “yield curve control.” While the world’s bond yields have risen dramatically over the past few months, Japanese yields have barely moved. However, at the beginning of this week, the BOJ Chairman’s first test arrived as the 10 year bonds went over the 0% cap rate.
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With the BOJ signaling a harder cap than the market expected, we expect this to have significant repercussions for the rest of the worlds bond market.
Click here to get our latest on the Bank of Japan and what it means for bond and equity markets.