The Japan BOJ has controlled three specific bond issues (keeping them at 48bp) while the 9-year and 11-year are breaking higher, and the swap market (not subject to yield curve control) is trading 85bp on the 10-year, indicating market strain against BOJ controls.
normativepending
Speaker
James BiancoEvidence Quote
“They don't have yield curve control, they have three bond control...these three issues that are down at 48 basis points...the 10-year swap is trading about 85 basis points.”
Source
DoubleLine Round Table Prime, 2023 - Part 1: Macroeconomic State of Play 1-4-23— DoubleLine CapitalCreated: 8/11/2026, 1:33:48 AM
My Notes
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