Bank of Japan's government bond purchase reduction, possibility centered on 10-year bonds - data suggests

2024/7/30 13:38 JST (some excerpts)
Bank of Japan holdings are concentrated in the short, medium to long term, two-thirds of the balance
The cheapest futures stocks for the March period hardly appeared on the market
The government bond purchase reduction, which the Bank of Japan is scheduled to announce details on the 31st, will be centered around the zone with a remaining period of 7 to 10 years.
　　Government bonds held by the Bank of Japan are concentrated with a remaining period of 10 years or less, and account for about two-thirds of the balance issued. The Bank of Japan holding ratio of government bonds over 10 years is quite small at 26%.
　　The Bank of Japan holds 83% of the cheapest stocks (Cheepest, CTD) for the September term of long-term government bond futures, and its market share will jump to 95% for the 2025/3 period. It is fresh in my memory that the Bank of Japan's chief pest mass purchases in mid-'22 led to the collapse of the ruling strategy using spot and futures.