Japan’s JGB 10 year yiedl hits 0.955%, highest since May 2013

It looks like the Bank of Japan’s YCC ceiling on the 10-year yield will be raised to 1.5%:

JGB sellers jumping in ahead of that taking the yield to 0.955%.

The last time the BOJ expanded the ceiling they made the argument that doing so would mean they could maintain looser policy for longer.

USD/JPY over the past few minutes is higher, that argument the BOJ made last time might be coming front of mind … also, the data we had today is not going to encourage the BOJ into tightening any time soon:

This article was written by Eamonn Sheridan at www.forexlive.com. Source