How many unlimited fixed-rate JGB buying operations will it take for the BoJ to keep JGB yields ”around zero percent”?: The MUFG Global Markets Podcast

The Nikkei Average, USDJPY, and JPY rates are all up, while the front end of the JPY basis curve has widened. Real demand for resources has caused JPY to weaken ahead of the fiscal year-end, and the Kishida Administration has unveiled inflation countermeasures. On Monday, March 28, the Bank of Japan announced multiple fixed-rate JGB buying operations to cap 10Yr JGB yields at 0.25%.

In today's episode, MUFG Chief Japan Strategist Takahiro Sekido dissects the BoJ's fixed rate JGB buying operations and JPY cross-asset flows in February. He also shares his views on the Dollar/Yen, Yen rates, and Yen basis.

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