The yield on the five-year Japanese government bonds fell to -0.139 percent – the lowest level since November 2017. Further, the 10-year yield fell to 0.024 percent earlier today, a level last seen on May 27.
The downward pressure on the yields could force the Bank of Japan (BOJ) to trim its bond purchases, so as to keep benchmark 10-year yields in a range around zero percent in its yield-curve-control policy introduced in September 2016.
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