World Economy

Japan’s 2-Year Yield Falls

Japan’s 2-Year Yield FallsJapan’s 2-Year Yield Falls

Japan’s two-year notes climbed, pushing yields to a record low, as a decline in domestic equities reinforced speculation the Bank of Japan will maintain its unprecedented debt purchases to sustain growth. The yield dropped three basis points to 0.005 percent, declining past the previous low of 0.01 percent set in August 2002, after banks and exporters weighed on the Topix Index (TPX) and US Treasury yields plunged earlier this week. The central bank couldn’t buy all 3 trillion yen ($28 billion) of bills it sought to purchase Friday, falling short of its goal for such an operation for the first time since at least April 2013.