Japan – Decline & Fall Of The Biggest Bond Market In The World
Bank of Japan has reached the practical limit of its government buying programme in terms of its current purchase programme of Â¥80tn relative to estimated annual JGB net new issuance of Â¥34tn. In this respect, the Japanese central bank has from a potentially monetisation standpoint always defended the integrity of its JGB purchase programme by stressing that it only buys JGBs in the secondary market, […]