This is not a reprint from last nightat it againand targeting a different part of it's yield curve and continuing to sell US Treasuries to strengthen muh Yen'
BOJ Announces More Unscheduled Bond Purchases to Cap Yields
The Bank of Japan announced another round of unscheduled bond-purchase operations as it seeks to limit selling pressure on the nation’s debt.
The BOJ offered to buy unlimited amounts of two-year notes at a yield of 0.030% and five-year debt at 0.240%. It also offered to buy a total ¥300 billion yen ($2.24 billion) of one-to-10 year notes. That’s in addition to a daily offer to purchase unlimited quantities of 10-year bonds and futures-linked securities at 0.5%. The central bank on Wednesday offered to buy an unlimited quantity of two- and five-year notes at fixed yields, and ¥500 billion yen of one-to-10 year debt at market prices.
The additional operations signify the conundrum facing Japanese policy makers. They doubled the ceiling for 10-year yields to 0.5% this month to help improve market functioning, but the decision sparked a selloff in debt, requiring even more BOJ purchases and threatening to reduce liquidity further. BOJ governor Haruhiko Kuroda has said the decision to increase the 10-year benchmark yield ceiling was just to make the curve control program more sustainable. Japan’s key inflation gauge is climbing at the fastest pace in four decades, putting further pressure on the central bank. Traders are adding to bets the BOJ is moving toward ending its ultra-loose monetary policy, with money managers including BlueBay Asset Management predicting the central bank will make further tweaks in the months ahead.
The BOJ conducts two kinds of bond-buying operations, one with a fixed yield and the other for a fixed amount. In the former it buys an unlimited quantity of debt at a predetermined yield. In the latter, it purchases a fixed amount of bonds at the prevailing market yield.
https://www.bnnbloomberg.ca/boj-announces-more-unscheduled-bond-purchases-to-cap-yields-1.1864033
https://www.marketwatch.com/investing/currency/usdjpy?mod=mw_quote_switch