Nikkei Plunges 5% as Japan 10-Year Yield Goes Negative First Time
by Mike ‘Mish’ Shedlock
Mish Talk
Japan 10-Year Yield Goes Negative First Time
More, more, more scream the investors. Apparently the Bank of Japan is not doing enough to kill the Yen. That’s the message today as the Nikkei plunged 5% even though yield on the Japanese 10-year government bond went negative for the first time in history.
Bloomberg reports Kuroda’s Three Strikes Drive 10-Year Yield Below Zero.
Japan’s benchmark 10-year yields touched a record low of minus 0.01 percent Tuesday in the wake of the Bank of Japan’s surprise decision on Jan. 29 to charge some lenders on excess reserves held at the central bank. Governor Haruhiko Kuroda drove down yields to unprecedented levels after initiating a monetary base target in April 2013 and a boosting the BOJ’s bond purchases to a record in October 2014. He said last week he could lower deposit rates further or boost bond buying if needed.
Continue Reading at MishTalk.com…
Source: http://financialsurvivalnetwork.com/2016/02/nikkei-plunges-5-as-japan-10-year-yield-goes-negative-first-time/?utm_source=rss&utm_medium=rss&utm_campaign=nikkei-plunges-5-as-japan-10-year-yield-goes-negative-first-time
