Well, as an example of what they're talking about (if anyone is interested)... the Japanese 30yr auction was yesterday (with a generous yield of 0.3%, a new record low). Did some figures on what a rise in rates would look like (approximate - blue, and actual - yellow):
Probably one of the more extreme examples out there currently. Let's say you bought at yesterday's auction for $99 and today yields went up 1%, you'd only be able flog it for $88.
And to think Kuroda was openly happy about driving the yield curve lower. The mind boggles.
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Well, as an example of what they're talking about (if anyone is...
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