European Parliament Library

Assessing the Risks to the Japanese Government Bond (JGB) Market, Waikei Lam, Kiichi Tokuoka

Contributor
Abstract
Despite the rise in public debt, Japanese Government Bond (JGB) yields have remained low and stable, supported by steady inflows from the household and corporate sectors, high domestic ownership of JGBs, and safe-haven flows from heightened sovereign risks in Europe. Over time, however, the market's capacity to absorb new debt will likely shrink as population ages and risk appetite recovers. In the short term, a decline in fund supply from the corporate sector, where financial surpluses are abnormally high, and spillovers from global financial distress could push up JGB yields. Fiscal reforms to reduce public debt more quickly and lengthen the maturity of government bonds will help limit these risks
Table Of Contents
Cover; Table of Contents; I. Introduction; Figures; 1. Overview of the JGB Market; II. Risks to the JGB Market from Shrinking Fund Supply, Global Spillovers, and Market Volatility; 2. Japan: Financial Balance Sheets of the Non-financial Sectors; 3. Fund Supply and Demand of Non-financial Sectors; Tables; 1. Impact of Loans and Deposits on Banks' Holdings of Government Securities; 2. Correlation of Japanese Sovereign Yields; 4. Global Spillovers and Volatility of the JGB Market; 3. Factors Influencing Short-term JGB Yield Movements; 4. Financial Indicators Influencing Sovereign Risk
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (20 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781463973759

Library Locations

  • EP Library Strasbourg

    7 Place Adrien Zeller, Allée du Printemps, Strasbourg, F-67070, FR
    Borrow
  • EP Library Luxembourg

    Rue du Fort Thüngen, Luxembourg, L-1313, LU
    Borrow
  • EP Library Brussels

    60 rue Wiertz, Brussels, B-1047, BE
    Borrow