A bit of a preview of the Bank of Japan
This via a Bloomberg TV interview with Kelvin Tay at UBS Wealth Management
- Says expects the Bank BOJ to raise 10-year bond yield to about 0.12%
- Market is anticipating the bank to tweak its yield control policy
- will "spark a bit of re-rating" of Japanese banks' valuations
- Says the JPY to strengthen on the BOJ move
Gotta say, past experience has suggested not to expect too much from the BOJ meeting. Given the JGB and yen moves we have had since late last week though UBS may be onto something.
Tay is not explicitly saying it'll be at the next meeting, but its difficult to see what else he could mean. The Bank meets Monday and Tuesday next week, July 30 and 31.