BOJ scaling back its JGB buying in the 10-25 yr and +25

JGB operations 09.01.2018

• Offers to buy ¥190B in 10-25 year JGBs vs ¥200B prior
• Offers to buy ¥80B in over 25-year JGBs vs ¥90B prior
• Offers to buy ¥25B in inflation-indexed JGBs
• Japan MoF to sell ¥2.2T in 5-yr govt bonds on Jan 16th

As mentioned before, BOJ was already below its target amounts in 2017 and continues to screw back gradually.
JPY responds by appreciating a bit as the news comes out .
USDJPY 113.08 from 113.16
EURJPY 135.30 from 135.42
GBPJPY 153.40 from 153.55

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K-man

Fundamentalist market maker, turned all round market taker.
Philosophy: “Cycling is good for your health, overtrading is bad”

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