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Bank of Japan to conduct unscheduled bond-buying operation
The Bank of Japan announced an unscheduled bond operation on Tuesday, as it sought to slow a rise in Japanese government bond (JGB) yields that had brought them to fresh decade highs. Japan's central bank offered to buy 300 billion yen ($2.00 billion) in bonds with maturities of five to 10 years and 100 billion yen worth with maturities of 10-25 years from Wednesday. That was in addition to its daily offer to buy an unlimited amount of JGBs at a fixed rate of 1%. Following the BOJ's announcement, the 10-year JGB yield declined 0.5 basis point to 0.855%, earlier trading unchanged from Monday's closing level of 0.86%, ... (full story)