BoJ Official: Today's special operation was in response to sharp rise in JGB yields

A Bank of Japan (BoJ) was reported by Reuters, as saying that today's special operation was conducted in response to a sharp rise in JGB yields.

The BoJ offered to buy JGBs at a fixed rate unlimited amount in the 5 - 10 years at 0.11% yield. However, the Japanese central bank stated that no bids were tendered for Monday’s fixed-rate operation.