Shock Inference Lab

BoJ ends negative rates

2024-03-19 · Japan · monetary · severity 4/5

First hike in 17 years; ends NIRP and YCC officially; JGB yields rise gradually.

Pre/post market reaction

WindowJP 10Y ΔUS 10Y ΔSpread Δ
1d0.00pp0.00pp0.00pp
1w0.00pp0.00pp0.00pp
1m-0.04pp-0.16pp+0.12pp
3m-0.01pp-0.37pp+0.36pp

Yields at monthly resolution; sub-month windows interpolated. pp = percentage points.

Central-bank-led duration shock

Monetary surprise drives global duration.

Inference scores

no-signal
confidence: high

No abnormal yield movement detected after factor-model controls.

Early warning39/100

Abnormal yield move before the event (90d proxy).

Reaction35/100

Abnormal yield move after the event (1m / 3m).

Constraint23/100

Lead/lag band: no-signal.

Amplification0/100

Post-event move beyond pre, on a crisis backdrop.

Confidence90/100

Severity × benchmark coverage × data coverage.

v1 scores use a simple factor model on monthly yields. See docs/METHODOLOGY.md.

AI Inference

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