Is the BOJ Hedging for a Trump Tantrum?

Bloomberg Video

November 17 -- The Bank of Japan fired a warning shot at the government bond market Thursday, announcing its first offer to buy an unlimited amount of securities to maintain its yield-curve target. The so-called fixed-rate operation yielded no bids, a sign that the move was more of a demonstration exercise than an intended transaction in notes. Officials acted amid relative calm in the market, but in the wake of a global bond sell-off in the past week that had driven up yields across the globe -- and in the process put pressure on Japanese government bonds as well. State Street Global Head of Macro Strategy Michael Metcalfe discusses with Guy Johnson in London and Matt Miller in Berlin on "Bloomberg Markets: European Open."