Macroeconomic Effects and Spillovers from Bank of Japan ... - IMF
...We provide empirical evidence on the impact of the Bank of Japan?s unconventional monetary policies on domestic economic variables and their spillovers to international sovereign yields....
https://www.imf.org/en/publications/wp/issues/2025/11/06/macroeconomic-effects-and-spillovers-from-bank-of-japan-unconventional-monetary-policy-571620
Rising JGB Yields and the Unwinding Carry Trade: Strategic Implications ...
...Japan's bond market is undergoing a seismic shift. After decades of near-zero interest rates and aggressive quantitative easing, the Bank of Japan (BoJ) is normalizing monetary policy, driving a sharp rise in Japanese Government Bond (JGB) yields....
https://www.ainvest.com/news/rising-jgb-yields-unwinding-carry-trade-strategic-implications-global-fixed-income-fx-markets-2508/
Japan?s $7T Repatriation: Global Markets Shift - bancara.com
...Discover how Japan?s $7 trillion capital pivot and bond market repricing is reshaping global asset classes, yields, and risk premia....
https://bancara.com/the-great-repatriation-how-japans-7-trillion-dollar-pivot-upends-every-asset-class-you-own/
Japan: Financial Sector Assessment Program-Financial System Stability ...
...Abstract Japan?s large and globally well-integrated financial system has remained resilient through a series of shocks, including the COVID-19 pandemic, aided by strong policy support and improved policy frameworks since the 2017 Financial Sector Assessment Program (FSAP)....
https://www.elibrary.imf.org/view/journals/002/2024/109/article-A001-en.xml
Japan's Bond Market Crash: What Just Happened and Why It Matters for ...
...This crash is not merely a domestic Japanese concern; it has reverberated across US Treasury markets, European bonds, and emerging economies like India, particularly through the unwinding of the massive yen carry trade that has funded global asset investments for over a decade....
https://www.wrightresearch.in/blog/japans-bond-market-crash-what-just-happened-and-why-it-matters-for-global-markets/
Any respite for Japan?s bonds is likely to be short-term
...The fragile supply-demand imbalance for longer-dated bonds in Japan has been broken by a slowdown in domestic investor demand with 30-year yields briefly touching record highs in late May....
https://www.societegenerale.asia/en/newsroom/press-releases/press-releases-details/news/any-respite-for-japans-bonds-is-likely-to-be-short-term/
Japan?s $7 Trillion Bond Market Selloff: What Happened, Why It Matters ...
...Japan is the largest foreign holder of US Treasury debt, with over $1 trillion in holdings. When Japanese bond yields rise sharply, domestic institutions face a choice: repatriate capital from foreign markets to capture newly attractive domestic yields, or accept larger losses on existing holdings. The transmission was immediate....
https://europeanbusinessmagazine.com/japans-40-year-bond-yield-breaks-4-as-fiscal-fears-trigger-historic-sell-off/
Has the Japanese Yen Lost Its Safe-Haven Crown in 2026?
...As an analysis in 2026 summarised, the franc tends to outperform during European or Middle Eastern stress, while the yen is more responsive to global deleveraging events like a U.S. recession or a broad equity collapse....
https://www.disruptionbanking.com/2026/06/11/has-the-japanese-yen-lost-its-safe-haven-crown-in-2026/
The market turbulence and carry trade unwind of August 2024
...From the first half of July, the yen?s depreciation trend had reversed, amid rumoured Bank of Japan interventions, altering the incentives for many leveraged speculators. In addition, a brief equity sell-off with some signs of carry trade unwinding had occurred on 24 July....
https://www.bis.org/publ/bisbull90.pdf
Japan Carry Trade: The Real Drivers Behind Yen Weakness
...The BoJ is spinning multiple plates. Even exogenous shocks can weigh on sentiment without delivering a clean safe-haven rally, because the market is repricing Japan?s regime rather than simply responding to risk. For FX traders and asset managers, the spread remains, yet the cushion is wearing thin....
https://permutable.ai/japans-policy-normalisation-sentiment-and-the-yen-carry-trade/
Japan?s JGB yield rise sparks alarm, but fears of a global liquidity ...
...Japan?s 10-year yield rising to 1.7% has sparked dramatic claims of a global liquidity crisis, but the narrative is overstated. Repatriation flows are slow, hedged and already priced in....
https://investinglive.com/centralbank/japans-jgb-yield-rise-sparks-alarm-but-fears-of-a-global-liquidity-shock-are-overblown-20251117/
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