14/03/18

"They Killed The Market" - Not A Single Japanese Bond Traded On Tuesday



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"They Killed The Market" - Not A Single Japanese Bond Traded On Tuesday
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Bank of Japan Governor Kuroda appeared to somewhat proudly proclaim last night during his address to government that the BoJ has bought 75% of JGBs issued in fiscal-year 2017 so far! (and yet we are reassured that this is not debt monetization... not all).

"Yields in Japan are stable" Kuroda added... One glimpse at the chart below and its clear how 'stable' the Japanese bond market has become - reminding us ...

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