Japan 10-Year Yield Climbs Above 0.1% to Test BOJ’s Kuroda
- Weak 10-year auction spurs climb, Mitsubishi UFJ Kokusai says
- The BOJ boosted purchase of 5-to-10 year bonds last Friday
Bank of Japan Governor Haruhiko Kuroda Speaks At News Conference Following Rate Decision
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Japan’s 10-year yield climbed to its highest in a year after the Bank of Japan failed to step in to halt an advance that puts its yield-curve control strategy under scrutiny.
The yield rose as much as 2.5 basis points to 0.115 percent, the highest since January 2016 when the central bank adopted a negative rate policy. The BOJ’s target for the maturity is around zero percent, with analysts expecting the central bank to let the yield fluctuate within a range of positive and negative 0.1 percent.