Investors crank up bets on BoJ surrendering yield curve controls

Financial Times LogoFinancial Times1w ago

Investors crank up bets on BoJ surrendering yield curve controls

Quick Summary

This commitment to so-called yield curve control, a long-standing feature of monetary policy in an economy that has for decades struggled to generate meaningful inflation, places Japan increasingly out of step with a headlong dash to higher interest rates around the world.

At last week’s policy meeting, the Japanese central bank renewed its pledge to buy as much government debt as it takes to keep 10-year borrowing costs below 0.25 per cent.

But the short-JGB trade’s reputation for frustrating generations of investors is enough to keep others away.“I don’t think it’s a place to go in any material way,” said Kate El-Hillow, chief investment officer at Russell Investments.“I just have the word widow-maker in my mind.

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Article Details

Author / Journalist: Tommy Stubbington

Category: MarketsFinanceInvesting

Topics: Investors Yields Japanese Yield Global Central Bank Inflation Policy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 00:00:05

News Timezone: GMT -5:00

News Source URL:

Language: English

Reading Time: 7 minutes read

Article Length: 1172 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 4823

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