Japan's JGB 10 year yiedl hits 0.955%, highest since May 2013

<p>It looks like the Bank of Japan's YCC ceiling on the 10-year yield will be raised to 1.5%:</p><ul><li><a href="https://www.forexlive.com/centralbank/at-least-we-know-what-the-boj-will-do-today-10-year-jgb-yield-to-be-permitted-above-1-20231030/" target="_self">At least we know what the BOJ will do today: 10 year JGB yield to be permitted above +1%</a></li><li><a href="https://www.forexlive.com/centralbank/icymi-boj-set-to-allow-10-yr-japanese-government-bond-yields-to-rise-above-1-sources-20231030/" target="_self">ICYMI: BOJ set to allow 10-yr Japanese government bond yields to rise above 1% ('sources')</a></li><li><a href="https://www.forexlive.com/centralbank/bank-of-america-expect-the-boj-to-allow-the-10-year-jgb-yield-ceiling-to-rise-to-15-20231030/" target="_blank" data-article-link="true">Bank of America expect the BOJ to allow the 10 year JGB yield ceiling to rise to 1.5%</a></li></ul><p>JGB sellers jumping in ahead of that taking the yield to 0.955%. </p><p>The last time the BOJ expanded the ceiling they made the argument that doing so would mean they could maintain looser policy for longer. </p><p>USD/JPY over the past few minutes is higher, that argument the BOJ made last time might be coming front of mind … also, the data we had today is not going to encourage the BOJ into tightening any time soon:</p><ul><li><a href="https://www.forexlive.com/news/japan-sept-data-preliminary-industrial-production-02-mm-expected-25-20231030/" target="_blank" rel="follow" data-article-link="true">Japan Sept. data: Preliminary Industrial Production +0.2% m/m (expected 2.5%)</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.