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☆ Explainer: What is happening in Japan's bond market?
▼ + stars: | 2023-01-16 | by ( Junko Fujita | ) www.reuters.com time to read: +4 min

TOKYO, Jan 16 (Reuters) - Market forces have pushed Japanese government bond yields above policy targets. Here is what is happening and what it means:WHAT IS JAPAN'S BOND MARKET? To stimulate lending, growth and inflation, the Bank of Japan has pinned short-term interest rates at -0.1% and 10-year yields around zero since 2016. That swap yield may indicate where the 10-year bond could be if the BOJ left the market alone. "Unless the BOJ reduces its presence in the market and changes its stance that it is controlling the yield level, market liquidity won't improve."

TOKYO, Jan 13 (Reuters) - Yields on Japan's benchmark 10-year government bonds breached the central bank's new ceiling on Friday in the market's most direct challenge yet to decades of uber-easy monetary policy. The central bank already holds 80% to 90% of some bond lines. REMEMBER THE RBAThere is talk in the markets that the central bank could shorten its yield target to three- and five-year bonds, but history abroad suggests the strain will remain. With the local economy recovering faster than expected and inflation accelerating, the RBA realised its pledge to keep three-year yields at 0.1% out to 2024 was no longer credible. So it abruptly dropped the whole thing and three-year yields spiked to 0.48%, an episode the RBA itself conceded caused "reputational damage" that would not be repeated.

☆ Japan's biggest banks to raise housing loan rates after BOJ's policy tweak
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Dec 30 (Reuters) - Japan's three biggest banks said on Friday they would raise interest rates for housing loans for next month, reflecting the Bank of Japan's tweak in its ultra-loose policy. Mitsubishi UFJ Bank, the main banking unit of Mitsubishi UFJ Financial Group (8306.T), will raise the rate by 0.18 percentage point to 3.7%. Each bank has special loan programs for selected customers so their rates will be lower, with Sumitomo Mitsui charging 1.14%, Mizuho 1.60% and Mitsubishi UFJ 1.05%. Japan's central bank surprised the market last week by raising the cap on 10-year bond yield to 0.5% from 0.25%. Reporting by Ritsuko Shimizu; Writing by Junko Fujita; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

☆ FTX Japan to return assets to clients from February
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Dec 30 (Reuters) - The Japanese unit of failed cryptocurrency exchange FTX said on Friday it would return its customer assets from February. FTX Japan is developing a system with which customers can withdraw assets via the website of Liquid Japan, a crypto exchange it bought in February this year. "We deeply apologise for the big trouble caused by the prolonged suspension of services for the withdrawal of legal currency as well as crypto assets," FTX Japan said in a statement. FTX filed for U.S. bankruptcy protection in November and its founder Sam Bankman-Fried resigned as chief executive, after the biggest blowup in the crypto industry drew calls for tighter regulation. Reporting by Junko Fujita; editing by Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.

☆ Japanese shares end higher on Wall Street gains, financials weigh
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +2 min

The Nikkei share average (.N225) rose 0.65% to close at 26,405.87, while the broader Topix (.TOPX) edged up 0.24% at 1,902.52. "Japanese shares rose because U.S. equities gained at the end of last week, but the trading is very quiet with most participants in the U.S. and Europe away for holidays," said Shuji Hosoi, senior strategist at Daiwa Securities. Heavyweight Fast Retailing (9983.T), owner of the Uniqlo brand, rose 2.0% and chip-making equipment maker Tokyo Electron (8035.T) gained 2.22%. "The 10-year government bond yield hovers below the top end of the Bank of Japan's (BOJ) policy band, which prompted a sell-off of banking shares," Hosoi said. The volume of shares traded on the Tokyo bourse's main board was 0.85 billion, compared to the average of 1.25 billion in the past 30 days.

☆ North Korea fired ballistic missile, South Korea says
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Dec 18 (Reuters) - North Korea fired a ballistic missile towards the sea off the Korean Peninsula's east coast on Sunday, South Korea's military said. Japanese public broadcaster NHK said the North Korean-fired ballistic missile landed outside Japan's exclusive economic zone (EEZ), citing unnamed government officials. The North's missile launch comes just days after the country tested a high-thrust solid-fuel engine that experts said would allow quicker and more mobile launch of ballistic missiles, as it seeks to develop a new strategic weapon and speed up its nuclear and missile programmes. North Korea has conducted an unprecedented number of missile tests this year, including an intercontinental ballistic missile (ICBM) capable of reaching the U.S. mainland, despite international bans and sanctions. Reporting by Heekyong Yang, Jack Kim and Junko Fujita; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ Majority of Japanese oppose raising taxes to fund military expansion -Kyodo
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +2 min

David Mareuil/Pool via REUTERSTOKYO, Dec 18 (Reuters) - The majority of Japanese people do not support raising taxes to fund military expansion, Kyodo reported on Sunday, citing a survey the news agency conducted after the government announced Japan's biggest military build-up since World War Two. He said Japan was at a "turning point in history" and that military expansion through cost-cutting and tax hikes was "my answer to the various security challenges that we face". Almost 65% of respondents in Kyodo's survey opposed raising taxes for military spending, while 87% said Kishida's explanation of the need to raise tax was insufficient. The survey also showed support for Kishida's administration was unchanged from a month earlier at 33.1%, the worst since it was launched in October last year. The government's five-year tax plan, once unthinkable in pacifist Japan, would make the country the world's third-biggest military spender after the United States and China, based on current budgets.

☆ Investors revive wagers on Bank of Japan policy change
▼ + stars: | 2022-12-08 | by ( Junko Fujita | ) www.reuters.com time to read: +4 min

TOKYO, Dec 8 (Reuters) - Global investors are short-selling Japanese bonds and driving its other market yields higher, reviving bets that the Bank of Japan will need to tweak its ultra-easy monetary policy sooner rather than later. BOJ Governor Haruhiko Kuroda has repeatedly stressed the need to persist with the bank's unique yield-curve-control policy, which makes Japan an outlier among major central banks aggressively tightening policy to combat inflation. Japan swaps vs yieldsKuroda has said policy will not change until the recent cost-push inflation is accompanied by higher growth in wages. "The central bank may tweak its YCC before March. There should be an event weight it doesn’t have at the moment," says Malcolm, while making clear UBS does not expect any policy change for at least another year.

☆ BOJ ramps up bond buying ahead of policy meet, yields fall sharply
▼ + stars: | 2022-10-26 | by ( Junko Fujita | ) www.reuters.com time to read: +2 min

The 20-year JGB yield slipped 8.5 bps points to 1.110%, its lowest since Oct. 18. "The market sentiment was good today as U.S. Treasury yields fell overnight so JGB yields would have fallen anyway," said Naka Matsuzawa, a strategist at Nomura Securities. Yields on shorter end notes also fell on Wednesday, with the two-year JGB yield retreating 1 bps to -0.025%. The BOJ offered to buy 350 billion yen ($2.36 billion) of bonds with 10- and 25-year maturities, up from 250 billion yen it had planned. The BOJ said it would also buy 575 billion yen of bonds with 3- to 5-year maturities, up from a planned 475 billion yen, and 150 billion yen of bonds with maturities more than 25 years, up from 100 billion yen.

☆ BOJ increases bond buying, yields fall sharply
▼ + stars: | 2022-10-26 | by ( Junko Fujita | ) www.reuters.com time to read: +1 min

The market immediately reacted to the move, with the 30-year JGB yield falling 10 basis points (bps) to 1.475%, its lowest since Oct. 14. The BOJ conducted emergency bond buying operations for two straight sessions last week only to see yields keep rising. Yields on shorter end notes also fell, with the two-year JGB yield retreating 1 bps to -0.025%. The BOJ offered to buy 350 billion yen ($2.36 billion)of bonds with 10- and 25-year maturities, up from 250 billion yen it had planned. The BOJ said it would also buy 575 billion yen of bonds with 3- to 5-year maturities, up from a planned 475 billion yen, and 150 billion yen of bonds with maturities more than 25 years, up from 100 billion yen.

☆ BOJ, battling rising yields, will conduct emergency bond buying for 2nd day
▼ + stars: | 2022-10-21 | by ( Junko Fujita | ) www.reuters.com time to read: +2 min

In its latest move to curb elevated yields, the BOJ said it would conduct an emergency operations, offering to buy 100 billion yen ($665.56 million) of bonds with maturities between 10 and 25 years. The BOJ conducted a similar operation on Thursday only to see yields on some notes rising to multi-year highs. "But upward pressure on the 10-year bond yields is getting stronger, because not just super-long yields, but yields on shorter ended notes are rising." Yields on the benchmark 10-year yields are at 0.25% at the top of the ceiling of BOJ's policy band, having breached that level for two straight sessions this week. Additionally, the bank would offer to buy 650 billion yen of 5- to 10-year bonds, up from planned 550 billion yen.

☆ Bank of Japan to conduct emergency bond buying as yen teeters near 150
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Oct 20 (Reuters) - Japan's central bank on Thursday said it would hold emergency bond-buying operations, offering to buy some $667 million in government debt, a move designed to put a floor under bond prices. The yen has been hammered this year by the widening difference between U.S. and Japanese interest rates. Register now for FREE unlimited access to Reuters.com RegisterBut the central bank has so far showed no sign of changing tack. Thursday's move showed the BOJ was continuing to buy bonds and keeping the YCC policy in place. The central bank said it would buy 100 billion yen ($667 million) of JGBs with maturities of 10-20 years and another 100 billion of bonds with maturities of 5-10 years.

☆ Chubu Electric joins all-Japan Toshiba buyout consortium
▼ + stars: | 2022-09-17 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of Toshiba Corp. is displayed atop of the company's facility building in Kawasaki, Japan June 24, 2022. REUTERS/Issei KatoTOKYO, Sept 18 (Reuters) - Chubu Electric Power Co (9502.T) said on Sunday it is joining private equity firm Japan Industrial Partners (JIP) in conducting due diligence for a potential buyout of Japanese conglomerate Toshiba Corp (6502.T). JIP has contacted more than 10 companies including Chubu Electric, Orix Corp (8591.T) and Central Japan Railway Co (JR Central) (9022.T) to participate in its consortium, the Nikkei newspaper reported on Sunday. Toshiba said it does not comment on candidates for the potential buyout. JR Central did not immediately respond to a request for comment.

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