It's not like this hasn't been coming but this effectively shows how the latest BOJ pushback only lasted for about a week.
- Bond bears quietly plot their move against the BOJ again (25/01)
- 10-year JGB yields slowly inching back towards BOJ ceiling (26/01)
As much as policymakers will continue to maintain talk of ultra easy policy under Kuroda's remaining tenure, they might be forced into finding some other remedies to the situation in the meantime. For now, the pressure is on and this continues to signal that market players are not convinced by any of the dovish talk from Japan at the moment.