Yen Bears Say BOJ Exit Distant as Swaps at ’05 Low

Interest-rate swaps are signaling the Bank of Japan will lag far behind the Federal Reserve in ending record stimulus, adding pressure on the yen to weaken. Japan’s two-year swap rates fell to the lowest since July 2005 last week and the discount to similar U.S. contracts reached the highest in …

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Yen Bears Say BOJ Exit Distant as Swaps at ’05 Low