‘Buyers Strike' in Japanese Bonds Sends Warning Note to BOJ on Tapering
Japan's sovereign debt market is flashing a warning to the central bank that dialing back its bond purchases needs to be done with great care.
The issue is in sharp relief this week, with investors shunning an auction of government debt and yields soaring, just as market participants sit down with Bank of Japan officials to share views on tapering. Comments from Prime Minister Shigeru Ishiba likening Japan's financial position to that of Greece underscore the stakes for avoiding any missteps in fiscal and monetary policy.
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