As announced in today's monetary policy meeting, Bank of Japan (BOJ) will extend its JGB portfolio duration and that is having its intended effect in Japanese government bond (JGB) market.
Yen has defied weakness over Bank of Japan's (BOJ) move due to small size of the increase in additional purchase, $300 billion per annum or just about 0.375% of current purchase size. However the tweak in bond market is substantial, since the tweak change course of buying under current ¥80 trillion per annum.
Yield curve has flattened post decision and Japanese bonds rallying.
10 year, Japanese government bond yield, is down close to 5%, trading at 0.28% and 5 year yield is down close to 7%. Two year yield is down -6.5% today trading at -0.03%. 30 year yield is down -2.8%, trading at 1.3%.
While Yen and Nikkei are broadly defiant over the move, party is on in the bond market.


China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies
RBA Minutes Signal Australia Central Bank Remains Ready to Raise Interest Rates if Inflation Persists
BoE Policymaker Alan Taylor Signals No Need for Interest Rate Hike Amid Iran War Inflation Risks
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets
Best Gold Stocks to Buy Now: AABB, GOLD, GDX
FxWirePro: Daily Commodity Tracker - 21st March, 2022
BOJ Raises Interest Rates to 31-Year High, Signals Strong Focus on Inflation Risks
ECB Keeps July Rate Options Open Amid Iran War Energy Price Risks 



