After hitting highs yesterday of 0.92% the yield has been on the slide following Kuroda’ss Y2.8tn program to “calm bond markets”

Japanese finance minister Aso has just been on the wires saying that the BOJ always needs to pay close attention to Japanese bond movements and that Japan must be ready to see JGB yields rise when money starts circulation through the economy to a certain degree.

The move has not gone down well with the bond gurus with chief bond strategist at BOAML, Shogo Fujita saying that

The BOJ’s operation is too infrequent and too big. The operation is so big it threatens to break the market

The Nikkei is showing a loss after yesterdays record highs, currently at 14928.59 -167.44 or -1.11%