Yields hit three-decade highs as BOJ behind-the-curve narrative debated

Japanese yields are hitting multidecade highs, with the 10-year Japanese government bond climbing on Thursday to 2.9%, a level not seen since 1996.  

For many analysts, much of the blame lies with the Bank of Japan. They argue that it is behind the curve, raising rates too slowly and getting overtaken by the market.

Others are skeptical about this go-to analysis, countering that the data and the on-the-ground reality don’t necessarily support the popular narrative.