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BOJ buys an additional 800 billion JPY of medium-term JGBs

Amid the broad risk-off mood, news from the BOJ signaled an additional 800 billion Japanese yen worth of Japan Government Bond (JGB) purchase.

Details suggest the bonds would be of the medium-term (3 to 10- years) maturity while also adds to the scheduled purchase of JGB on Monday.

Additionally, the BOJ gave details of its 950 billion Japanese yen JGB buying offer. The bond purchase will be spread over four types of maturities ranging from 1 year to more than 25 years.

  • JPY 300 billion 1-3 Year.
  • JPY 500 billion 3-5 Year.
  • JPY 120 billion 10-25 Year (previous 100JPY billion).
  • JPY 30 billion >25 Year (previous JPY 30 billion).

Market implications

While USD/JPY ticked up from 110.30 to 110.53 after the news, the market’s risk-tone remains on the back foot with the US 10-year treasury yields down bear 0.80%. Further, Japan’s NIKKEI recovers the early-day losses while taking rounds to 16,530 by the press time.

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