The Bank of Japan have bought a reduced amount of JGBs in the 3 to 5 year range at the operation today, compared to the prior operation
- 1 to 3 and 5 to 10 ranges are unchanged
Ryan gave a sneak preview that they'd do this ... Ryan posting on Friday last week:
The BOJ's policy now is to tinker with purchases to suit their yield control program, while still maintaining their overall QQE purchases amounts.
Auction sizes;
- 1-3yr 200-300bn unchanged
- 3-5yr 250-350bn vs 300-400bn prior
- 5-10yr 350-550bn unch
- 10-25yr 150-250bn unch
- +25yr 50-150bn unch
