JGB yields cling to 10-year highs despite BOJ intervention

The Bank of Japan (BOJ) conducted an emergency bond purchase on Wednesday, offering to buy more bonds than at their previous unscheduled operation, but failed to ease Japanese government bond (JGB) yields off decade-peaks. The benchmark 10-year JGB yield is currently hovering around 0.78%, its highest since September 2013, after having fallen slightly the previous day. In addition to their regularly scheduled purchases of JGBs, the BOJ said on Wednesday it offered to buy 675 billion yen ($4.52 billion) worth of bonds with maturities between 5 and 10 years.