Japanese government bonds swung and the yen fell as the central bank moved to reassert control over surging yields, while money market rates rose in China after officials boosted their target for a key benchmark.
Japanese 10-year yields briefly erased gains and the yen dropped after the Bank of Japan offered to buy an unlimited amount of bonds at a fixed rate in an unscheduled operation — a move viewed by market players as a sign that the central bank has been shaken by U.S. President Donald Trump’s criticism of its monetary easing.
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