S&P/JPX JGB VIX jumped higher intra-month on the back of a surprise reduction by the Bank of Japan (BoJ) to their regular long-dated JGB buying operations.
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Despite the general downtrend, the S&P/JPX JGB VIX got a strong intra-month boost, as 10-Year U.S. Treasury Bond yields approached the symbolic 3% level and global inflationary pressures caused JGBs to weaken.
S&P/JPX JGB VIX started the month off with a jolt from Bank of Japan (BoJ) Governor Haruhiko Kuroda’s comments regarding a possible exit from current monetary policy in fiscal year 2019.