MARKET DAILY

Market 10/31: Stability returns to the market

Japan officially abandons interest rate cap. Economic signals continue to be pessimistic ahead of FOMC.

Bank of Japan (BOJ) finally moves to abandon yield curve control policy (YCC) - super QE policy over the past 7 years (since 2016):

Accordingly, 8/9 BOJ members voted to decide: the +/-1% limit for Japanese 10Y bond yields (JPB) will now only be considered as "a reference".

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