BOJ's Masu Calls for Prompt Rate Hikes as Japan Yields Hit Fresh Highs
Japanese government bond yields climbed further after Bank of Japan board member Masu called for rates to be raised as soon as possible if the economy shows no signs of trouble, saying Japan is no longer in deflation and that negative real interest rates should be addressed promptly. The 10-year yield rose 3.5 basis points to 2.620% and the 20-year yield gained 6 basis points to 3.535%, while the 30-year yield reached a record high.
Masu said policy rates should move further into the neutral interest-rate band and warned that yen depreciation could lift inflation expectations and affect core inflation dynamics, adding to inflation risks tied to the war in Iran. The latest move extends a broader selloff that earlier this week pushed the 20-year yield to its highest level since 1997 and the five-year yield to a record, reinforcing expectations of further BOJ tightening.
From the sources (25 posts)
@firstsquawkBOJ APRIL MEETING SUMMARY: ONE MEMBER SAID BOJ MAY NEED TO ADDRESS RISK OF PRICES DEVIATING UPWARD; ANOTHER SAID GIVEN SIGNIFICANTLY LOW REAL INTEREST RATES, APPROPRIATE FOR BOJ TO CONTINUE RAISING POLICY RATE
@firstsquawkBOJ SUMMARY: ONE MEMBER SAID RATE HIKE PRIORITIZING INFLATION CONTAINMENT HIGHLY LIKELY TO HAVE ADVERSE EFFECTS ON ECONOMIC DEVELOPMENTS; ANOTHER SAID MIDDLE EAST SITUATION IMPACT DIFFICULT TO FORESEE, REQUIRING WAIT-AND-SEE APPROACH
@firstsquawkBOJ SUMMARY: ONE MEMBER SAID NO NEED FOR HASTY ACTION BUT BOJ SHOULD RAISE RATES SOON BARRING EVIDENT SIGNS OF ECONOMIC SLOWDOWN; ANOTHER SAID QUITE POSSIBLE BOJ WILL HIKE RATES FROM NEXT MEETING ONWARD EVEN IF MIDDLE EAST OUTLOOK REMAINS U
@firstsquawkBOJ SUMMARY: ONE MEMBER SAID BOJ MUST PREVENT RISK OF INFLATION SIGNIFICANTLY DEVIATING UPWARD FROM MATERIALIZING; ANOTHER SAID JAPAN'S REAL POLICY RATE IS BY FAR THE LOWEST GLOBALLY & BOJ MUST CONTINUE ADJUSTING NEGATIVE REAL INTEREST RATE
@firstsquawkBOJ SUMMARY: ONE MEMBER SAID IF UPSIDE PRICE RISKS INCREASE, BOJ MUST ACCELERATE RATE HIKES WITHOUT HESITATION; ANOTHER SAID POLICY RATE STILL SOME DISTANCE FROM NEUTRAL, BOJ MUST CONTINUE RAISING RATES AT INTERVALS OF A FEW MONTHS
@firstsquawkBOJ SUMMARY: ONE MEMBER SAID DESPITE MIDDLE EAST UNCERTAINTY, ALL SCENARIOS POINT TO FURTHER UPSIDE PRICE RISKS; ANOTHER SAID PROLONGED MIDDLE EAST TENSIONS WOULD NECESSITATE RAISING POLICY RATE TO NEUTRAL AT AN EARLIER TIMING
@firstsquawkBOJ SUMMARY: ONE MEMBER SAID SUPPLY-SIDE CONSTRAINTS IF MATERIALIZED WILL EXERT EXTREMELY STRONG UPWARD PRESSURE ON PRICES; CABINET OFFICE REP SAID EXPECTS BOJ TO CLOSELY COOPERATE WITH GOVERNMENT PER JOINT STATEMENT IN CONDUCTING MONETARY
@businessThe Bank of Japan signaled the possibility of a hike to its benchmark rate next month with a summary of views from last month’s board meeting that conveyed concerns over upside inflation risks stemming from the conflict in the Middle East h
@globalmktobserv🚨Japanese government bond yields are surging to historic levels: The 30-year JGB yield is up to 3.835%, the 2nd-highest on record and on track for the highest weekly close since the bond was introduced in 1999. This comes as the Bank of J
@firstsquawkThe 10-year Japanese government bond yield increased by 5 bps to 2.590%.
@firstsquawkThe 30-year Japanese government bond yield increased by 5 basis points to 3.860%.
@firstsquawkThe yield on Japan’s 5-year government bond rose 3 basis points to a record high of 1.945%.
@marketnews_feedTHE YIELD ON JAPAN’S 5-YEAR GOVERNMENT BOND ROSE 3 BASIS POINTS TO A RECORD HIGH OF 1.945%. ...
@firstsquawkThe 20-year Japanese government bond yield increased by 5 basis points to a record level of 3.495%.
@firstsquawkThe 10-year Japanese government bond yield increased by 6 basis points to 2.600%.
@businessJapan’s 20-year government bond yield breached its January peak to touch the highest level since 1997, as rising energy prices add to inflation pressure.
@businessThe Bank of Japan’s policy rate is expected to reach 2% by the end of 2027, according to a new estimate from the Organisation for Economic Co-operation and Development.
@firstsquawkAccording to the OECD Secretary-General, the Bank of Japan is not behind the curve as inflation expectations remain anchored and wages are strengthening.
@zerohedgeJapan's 20Y bond yield rises as high as 3.511%, highest since 1996 as global interest rates go vertical
@reutersOECD sees Japan raising interest rates to 2% by end-2027
@firstsquawk30-year JGB yield edges higher by 3 basis points, reaching 3.845%.
@firstsquawkJapan’s BOJ board member Masu warns that yen depreciation may lift inflation expectations and impact core inflation dynamics.
@firstsquawkYield on the 10-year Japanese government bond increases to 2.620%, up 3.5 bps.
@firstsquawkJapan’s BOJ board member Masu warns that an energy shock triggered by the Iran conflict may have economic effects even worse than the 1973 oil crisis, citing risks to growth and prices.
@barchartBREAKING 🚨: Japan Japan's 30-Year Yield jumps to highest level in history 📈🤯👀