JGBs exclude T-Bills. Notes: 2. In the right chart, figures basically indicate the amount of JGBs sold by dealers, excluding inter-dealer transactions. Note that figures for "BOJ" indicate the total amount of JGBs purchased by the BOJ, including those from entities other than dealers. Sources: JSDA; Bank of Japan. 6  Chart 7  II.
Lessons Learned from Japan's Experience and Challenges Ahead  Functioning of the JGB Market Developments in the JGB Transaction Volume  JGB Yield Elasticity to U.S. Long-Term Interest Rates 0.20  90  elasticity to a rise in U.S. long-term interest rates by 1bp, bps Strengthening the Framework for Continuous Powerful Monetary Easing (July 2018)  tril.