Amazing answer from ChatGPT on #YieldCurveControl. A blueprint for current times??? What do you think???
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Breaking: BOJ raises interest rates for the first time since 2007! Additionally, BOJ scraps yield curve control. Major developments in Japan’s monetary policy landscape. #BOJ #InterestRates #YieldCurveControl
🚨 Breaking through the noise, the Bank of Japan's upcoming decision could be the ultimate gamechanger!
The Bank of Japan gears up for a monumental decision in its March 18-19 meeting. Speculation is rife about the possible end of negative interest rates, signaling a potential shift in the historic bull run since October. #BOJ #FED
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It is rumored that the #BankofJapan is contemplating removing its #yieldcurvecontrol policy and swapping that for using target amounts of bond purchases. The suggested amount would be roughly USD 40 billion a month.
The key question here is why the Bank of Japan is (still) buying massive amounts of bonds in the first place? As the chart shows, the Bank of Japan holds a whopping 48% of all outstanding government bonds. Is this really about #inflation? 'No,' this is about #debt!
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'Bank of Japan Buys More Bonds to Slow Rising Yields a Day After Tweak' (BBG)
Sure, technically, you can explain yesterday's mini-tweak to #yieldcurvecontrol as part of #monetarypolicy normalization. But after the biggest #inflation shock in decades, #Japan's monetary policy remains ridiculously loose. The Bank of Japan already holds nearly 50% of all outstanding government #debt.
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The Bank of Japan will take 'a more flexible approach' to #yieldcurvecontrol. That doesn't sound like real tightening, now does it.
👀
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The #BoJ meets on Tuesday and there’s speculation of another tweak to #YieldCurveControl. How likely is a shock decision and how will #JPY react?
Check out our #FX preview for more 👉
spkl.io/60174o5Oc
#XM #MarketPreivew
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Can’t wait for those government backed 3% mortgages. #YieldCurveControl
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#YCC #YieldCurveControl for my economic geeks out there. You are going to see this next in the good ol' USA..They will be forced to do it to control rates.
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Real rates continue to rise and are now the highest since Feb 2009. If trend accellerates the Fed may need to step in and restart QE. Unlikely but possible. It would be a blow to their credibility and kick off #YieldCurveControl for the US
Very bullish for #Bitcoin and #GOLD
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🏦 "BOJ is considering tweaking yield curve control to cap it by 0.5%. That's a big change, and the markets don't want to see it happen." - @PipCzar #BOJ #YieldCurveControl #MarketInsights Watch the full Week Ahead episode here: piped.video/h_n_Vs0DC6M 📈💹
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Central Bank Update!
- The #BankofJapan has tweaked its '#YieldCurveControl' policy. The 10-year Japanese government bond #yield target remains unchanged, but the 50 basis point level is no longer a hard 'cap.'
- While #centralbank Governor Ueda does not expect the yield to rise to 1.0%, the Bank of Japan will offer purchases at that level. Hence, this may be seen as a new 'soft cap.'
- What the Bank of Japan tried to do here is add more flexibility to its extremely loose #monetarypolicy - hence allowing it to become less accommodative - without implementing a de facto rate increase by lifting the target and cap.
- What drove this decision is #inflation coming higher than expected, with Tokyo core #CPI unexpectedly rising to 4.0% in July.
- From the currency side, this adds to the notion that we have seen the low in the US dollar, #DXY.
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Shameless policy guidance by the #BankofJapan. They got v nervous w/ yen gains they decided to signal won't even consider exiting #yieldcurvecontrol b4 Dec. By then, Fed wouldve hiked, cut & hiked again. BoJ is making so much money in Jpns stocks it aint willing to lose any of it
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Conditions are ripe for #Japan's #yieldcurvecontrol to be abandoned, says former #BankofJapan Assistant Governor Kazuo Momma. @WillKoulouris $JPY #YCC
CNBC International
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#MichaelHowell from @crossbordercap, is just brilliant. He's definitely playing 4d chess vs. some of the other guys. Totally agree that #Yieldcurvecontrol is coming down the pipe. And owning #bonds won't be the right play, just like it hasn't been for #Japan. Instead, the government will buy bonds, and people will/should buy #equities, and things like #Bitcoin.
Please feel free to give this conversation a watch and learn from a pro!
piped.video/watch?v=58tBuswn…
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🆕 Was bedeutet der #SNB-Verlust für die geplanten Steuersenkungen in den Kantonen? Und wie geht es weiter mit dem #YieldCurveControl in Japan? Die neue Folge der #BörsenstrasseFünfzehn
Jetzt reinhören und abonnieren!
🎙️ spoti.fi/3GPcuVt
🎙️ apple.co/3XhyLm5
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Thread 🧵: Japan's yield curve control policy and its impact on the currency #yieldcurvecontrol #Japan #currency
1/ Japan has been implementing a yield curve control (YCC) policy since 2016 in an effort to stimulate its economy and achieve its inflation target of 2%.
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Despite the #BankofJapan loosening #yieldcurvecontrol and the pressure on #yields becoming immense, traders remain short the Japanese Yen (#JPY)
Expect to see some real fireworks Wednesday when the Bank of Japan decides on #monetarypolicy
8/ end!
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Not only has the 10-year bond #yield – the key target of the #BankofJapan’s #yieldcurvecontrol policy – risen to above the upper limit of the bandwidth of 0.50%, the 10-year swap rate - which is not directly impacted by yield curve control - briefly touched 1.0%!
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