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The Bank of Japan unexpectedly loosened its yield curve control, allowing greater flexibility in 10-year yields, and markets reacted with volatility in the yen, Japanese stocks and bonds. European bond yields also jumped in response.
The surprise move lifted global government bond yields and added volatility to currency markets. Higher yields and a firmer yen can tighten credit and reduce dollar-based commodity demand at the margin.
cnbc.comSilvia AmaroJul 28, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
