BOJ Expected to End Negative Rates in 2024, Lifting Yields and Repatriating Funds from U.S. Bonds
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Japan's era of negative interest rates likely to end in first half of 2024 according to survey, ending the BOJ's bold experiment since 2016.
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Higher yields in Japan would encourage fund repatriation by Japanese investors, negatively impacting Treasuries the most.
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Global bond market volatility expected to increase when BOJ changes policy, with most expecting change next year.
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Benchmark 10-year Japanese sovereign yields likely to reach 1% in first half of 2024.
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Dollar-yen rate expected to finish 2022 in range of 140 to 150 with yen being worst G10 performer this year.