BOJ to Buy Additional Bonds to Curb Rise in Sovereign Yields
- Announcement came after Japan bond yields rose to decade-high
- Japan yields have climbed on bets BOJ will end negative rates
This article is for subscribers only.
The Bank of Japan announced an extra bond-buying plan for this week as a global debt selloff forces policymakers into the market to curb sharp increases in yields.
The BOJ will purchase extra amounts of 5-to-10-year debt on Wednesday as it strives to slow rising yields that are at the highest level in a decade. The benchmark 10-year maturity climbed to 0.775% Monday, a level last seen in 2013. Japan’s 20- and 30-year yields are at similar peaks while Treasury yields also keep moving higher.