JGB VIX Market Commentary Jul 2018

August 1, 2018
John C. White

The S&P/JPX JGB VIX began the month at an all-time historical low (1.11) and remained near that levelfor three weeks. Then late in the day on July 20, 2018, there were several news reports that the Bank of Japan (BoJ) would be debating policy changes at their upcoming Monetary Policy Meeting (July 30-31, 2018). As measured by the S&P/JPX JGB VIX, this sent shockwaves through the markets in the trading sessions to follow and, as a result, the BoJ performed defensive operations to keep yields from skyrocketing ahead of the meeting.

The JGB VIX Newsletter is a monthly series of market commentary on Japanese markets and monetary policy through the lens of JGB volatility.

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