The Bank of Japan intervened in the Japanese government bond (JGB) market on Friday for the fifth time this month after the 10-year yield rose to a fresh decade high, pitting the BOJ in a fight against market forces amid surging U.S. yields.
The benchmark JGB yield climbed to 0.845% right at the start of the trading day, its highest since July 2013, after revisiting peaks the previous day as well.
But it eased immediately after the BOJ announcement, and dropped to 1.0 basis point (bp) lower than Thursday's closing level at 0.83%.
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