📝BoJ May End Up Holding More 10-Yr JGBs Than Issued: Citi Strategy

Estimates the BOJ’s holdings at 3.11t yen as of Oct. 31 assuming purchases through the central bank’s fixed-rate buying operations are fully settled. The outstanding amount is 2.87t yen. Bank of Japan may hold more than 100% of Sept. 2023 notes. However, this is not a big issue at the moment, what is more important is whether the Bank of Japan will continue buying more than market outstanding. - Citi Strategy