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The yield on the 10 year Japanese Govmnt Bond has risen above the BOJ's tolerance band top

Eamonn Sheridan
27/07/2023 | 23:47 GMT

The yield on the 10 year Japanese Government Bond has hit 0.505%.

Above the 0.5% top of the Bank of Japan tolerance band (zero % +/- 50bps)

  • highest since March 3

USD/JPY is dropping as speculation continues there will be a Bank of Japan YCC tweak today, along the line suggested by BNP:

  • Bank of Japan meet Friday. BNP is expecting the BOJ to widen YCC to +/- 100 bps (from 50)
usdyen boj jgb tolerance band 28 July 2023

Tokyo area inflation data, just out, is still hot:

  • Tokyo July CPI data comes in way above the 2% BOJ target rate. Again.

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