Trading in Japanese government bonds is drying up. Does that matter?
Trading desks in Tokyo have fallen silent as the Bank of Japan has hoovered up bonds
NOBODY BOUGHT Japan’s ten-year government bond in over-the-counter trading on August 3rd. Such a lull in the world’s second-largest market for sovereign bonds would once have been remarkable. But in fact this was not even the first time activity dried up. Once-frenetic trading desks in Tokyo have fallen silent over the past half-decade.
This article appeared in the Finance & economics section of the print edition under the headline “Closed for business”
Finance & economics August 28th 2021
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- Trading in Japanese government bonds is drying up. Does that matter?
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