Japan Yield Rise Ripples Through Global Bond Markets

The video discusses the Bank of Japan's surprise policy change, which has implications for global yields and macro funds. The BoJ's actions are seen as a capitulation to macro speculators, with potential upward pressure on global yields. The video also highlights the BoJ's credibility issues regarding CPI targets and speculates on future policy normalization under a new governor.

What does the current CPI data suggest about the Bank of Japan's credibility regarding its inflation target?

What are the implications of the Bank of Japan's policy being considered out of date in the current global macro environment?