Martina Song, Research Analyst at Westpac, suggests that this Tue, when 10yr JGB yields fell to a record low of -0.08%, this had risen to 71%. Key Quotes “The BoJ announced negative interest rates of -0.1% on 29 January. The following Wed, the Mar sale of 10 year JGBs to retail investors was cancelled amid expected below zero yields. This had already been done for 2 and 5yr notes. 10yr JGB yields dropped over 10bp on the day of the announcement, and did indeed move into negative territory a week and a half later. About 16% of outstanding JGBs were trading at negative yields in Mar 2015, just after the ECB began implementing its expanded asset purchase program. US yields were helped by the Fed hike in Dec but have since reversed much of their gains.” For more information, read our latest forex news.