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BOJ Cuts Mid-, Longer-End JGB Buys, Ups Short-End
The Bank of Japan Friday lowered the scale of its purchases of medium- and super long-term Japanese government bonds, while increasing the size of purchases for JGBs with a remaining life of 1 to 3 years. JGBs were little influenced by the BOJ's decisions after bonds opened higher, taking their lead from strong U.S. Treasury bond prices. The BOJ's decision to lower the scale of its purchases of JGBs was partly expected following the recent declines in JGB yields. The scale of JGB buying with a remaining life of 3 to 5 years and of 10 to 25 years was lowered by Y20 to Y360 billion and Y160 billion, respectively. ... (full story)