Global era of negative yields nears end after BoJ move

“What we are looking at is a re-examination of the efficacy of ultra-loose monetary policy, and the BoJ is the last skittle to fall in all of this,” says ­BlackRock's Stephen Miller. — Reuters

TOKYO: Japan’s two-year yield rose above zero for the first time since 2015, bringing the global era of negative yields closer to an end.

The rate added as much as two basis points to 0.01% yesterday, according to Japan Bond Trading Co data, as the country’s debt extended declines after the central bank doubled its cap on 10-year yields on Tuesday.