Reuters: US Dollar Report: Major Japan banks' JGB holdings plunge in April - BOJ

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Major Japan banks' JGB holdings plunge in April - BOJ May 31st 2013, 02:00 TOKYO | Thu May 30, 2013 10:00pm EDT TOKYO May 31 (Reuters) - The balance of Japanese government bonds held by the country's major banks plunged in April to below 100 trillion yen ($991 billion), Bank of Japan data showed, a sign their selling played a major part in pushing up yields to a one-year high. The total balance at the end of April stood at 96.27 trillion yen, down 10.8 percent from March and falling below the 100 trillion yen threshold for the first time since June 2011, the data showed. The benchmark 10-year JGB yield hit a record low of 0.315 percent a day after the BOJ unleashed the world's most intense burst of stimulus on April 4, promising to inject $1.4 trillion into the economy in less than two years to meet its pledge of achieving 2 percent inflation in roughly two years. But the bond yield has risen since then as the central bank's massive bond purchases jolted markets.

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