The Bank of Japan provided no additional monetary stimulus at its monetary policy meeting on Tuesday. “Japan's economy is picking up,” the BoJ said in a statement.
The yen rose following the decision while stock markets around the world fell. The Nikkei 225 fell 1.5 percent, the STOXX Europe 600 fell 1.2 percent and the S&P 500 fell 1.0 percent.
European government bonds fell on Tuesday. Spain and Italy’s 10-year yields rose six basis points to 4.65 percent and 4.35 percent respectively.
However, US Treasuries rose on Tuesday. The 30-year bond yield fell six basis points to 3.31 percent while the 10-year note yield fell three basis points to 2.19 percent.
On the economic data front, the UK provided some positive news. Industrial output rose 0.1 percent in April, the third consecutive monthly increase. A survey from the Royal Institution of Chartered Surveyors showed British house prices rose last month at their fastest pace since June 2010, while new buyer enquiries jumped to levels last seen in 2009.
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