Japanese 10-year bond yields fell to a record low, following yields on other maturities down to unprecedented levels, as the Bank of Japan scoops up debt.
Ten-year yields slid 1 1/2 basis points to 0.31 percent as of 2:40 p.m. in Tokyo, according to data from Japan Bond Trading Co., the nation’s largest inter-dealer debt broker. The previous low was 0.315 percent set in April 2013.
The Bank of Japan this month maintained its unprecedented stimulus as Governor Haruhiko Kuroda’s battle to stoke inflation faces challenges from tumbling oil prices. The central bank plans to boost the monetary base at an annual pace of 80 trillion yen ($666 billion), it said in a statement.
Oil has lost more than a quarter of its value since the central bank boosted easing on Oct. 31 to end a “deflationary mindset.”
To contact the reporter on this story: Wes Goodman in Singapore at wgoodman@bloomberg.net
To contact the editors responsible for this story: Tomoko Yamazaki at tyamazaki@bloomberg.net Naoto Hosoda
0 comments:
Post a Comment