Tag Archives: S&P Japan Bond Index

How a Negative Interest Rate Affected the Japanese Bond Market

Since the Bank of Japan announced a negative interest rate policy earlier this year, both government and corporate bond yields have decreased (see Exhibit 1).  After hitting a record low yield of -0.23% on July 8, 2016, the S&P Japan Government Bond Index rebounded following a modest stimulus announcement later that month.  As of Sept. Read more […]

Top Three Questions About Japan’s Bond Market

Question One: How big is Japan’s local currency bond market?  How does it compare to China’s bond market? The size of the local currency bond market in Japan (tracked by the S&P Japan Bond Index) stood at JPY 1,154 trillion as of Jan. 27, 2016, which is equivalent to USD 9.7 trillion.  It is 1.7 Read more […]

Asia Fixed Income: Foreign Investor Access to Onshore Chinese Bond Markets Grows

China continues to broaden foreign investor access to their onshore bond market. Luxembourg is the latest country being granted an RQFII quota by the People’s Bank of China, followed Canada, Germany, Qatar and Australia.  According to the data published by State Administration of Foreign Exchange (SAFE) on April 29, 2015, the approved RQFII investment quota Read more […]

Where to Find Yields in Japan?

As tracked by the S&P Japan Bond Index, a broad base benchmark that measures the performance of the government and corporate local currency bonds in Japan, the total outstanding par amount have reached over 1,070 trillion Yen this August. Not surprisingly, over 92% of them are government debts, which expanded 3.7 times since the index first valued on Read more […]