It Took a Record $81 Billion Bond Buy for BOJ to Restore Calm
- Weekly bond purchases by BOJ reach record as yields surged
- Traders see the calm in Japan’s bond market as temporary
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Tokyo’s bond market began the week on a much calmer footing as traders mulled unprecedented intervention by the Bank of Japan, which dragged benchmark yields back below their closely watched ceiling.
Ten-year yields edged higher to 0.23% Monday in the aftermath of the BOJ’s 10.9 trillion yen ($81 billion) of government bond purchases last week, the most on record, data compiled by Bloomberg show. The central bank ramped up bond buying as benchmark yields breached its 0.25% tolerated limit amid a global debt selloff.