JGB Watch: 10 Year Yields Reenters Crash Zone

I am in a Japan debt crisis alert mode so my JGB updates.

Japan’s key stock market benchmark, the Nikkei closed marginally up (.1%) today after steep intraday swings

Part of the early upside in the Nikkei could be due to the early interventions by the BoJ on JGBs. 

Near the closing bell, the Nikkei’s more than 1% gains were almost wiped out, except for the residual gains.

As of this writing, JGB yields across the curve has gone materially higher except the 30 year.

10 year yields have already encroached on Last Thursday’s flash crash zone.

So far, the ongoing turmoil in Japan’s bond markets have not yet caused panic elsewhere. Although Europe’s markets have been modestly lower as of this writing.

The Nikkei futures has likewise been moderately down by less than 1%.