BOJ bids to buy 150bn yen of 25+ year JGBs vs. 100bn planned

One of the inconsistencies with Bank of Japan policy is that while YCC caps the yield Yield A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as Read this Term on 10 year JGBs higher yields are leaking out at other maturities.

This higher than expected buy amount from the BOJ seeks to address that, at least for 25+ yr JGBs.

In other JGB maturites, a similar story:

• BOJ seeks to buy 650bn yen of 5-10 yrs vs. 550 bn planned
• 575bn yen of 3-5 yr vs. 475bn planned
• 350bn 10-25 years vs. 250bn planned

As for the BOJ meeting this week it seems the Bank is not set to give up on YCC just yet.

USD/JPY a touch lower, but only just: