Negative Yields Show BOJ Set to Override Markets: Japan Credit
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Japan’s investors are paying to lend to the government for the first time in at least five years, suggesting the central bank is willing to accept dysfunctional markets as the price for meeting its price goal.
The yield on bills maturing in six months dropped to a record low minus 0.001 percent on Sept. 9, according to Japan Bond Trading Co. Three-month securities became negative for the first time in secondary-market trading last week, according to data going back to at least 2009.