"The BoJ insisted the widening of the band does not mark a change in policy bias, but markets read it differently. Forwards now price 30bp of tightening by the central bank in 2023. Speculation of a wider ranging policy review has intensified for when Governorsteps down in March. The BoJ’s pivot is another bearish omen for the bond market in January when debt issuance traditionally speeds up.
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Source: Reuters - 🏆 2. / 97 Read more »