July 29, 2016
Treasuries fluctuated as tumbling Japanese government bonds dragged global sovereign securities lower after a Bank of Japan policy announcement that disappointed investors looking for a bigger stimulus.
The U.S. economy expanded less than forecast in the second quarter after a weaker start to the year than previously estimated as companies slimmed down inventories and remained wary of investing amid shaky global demand. GDP rose at a 1.2%.
The Bank of Japan kept its key monetary tools unchanged, and will mount a comprehensive review of its policy framework due to "considerable uncertainty" about the outlook for inflation, which has consistently underperformed the central bank's forecasts.
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