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Japan declines comment on other central banks' statement backing Fed's Powell

BY Reuters | ECONOMIC | 09:27 PM EST

TOKYO, Jan 14 (Reuters) - Japan's government declined to comment on the Bank of ?Japan's absence in a ?statement from other central banks ?supporting U.S. ?Federal ?Reserve chair Jerome Powell, saying it ?concerns the ?BOJ's own judgment.

The BOJ was ?not among ?the ?major central banks that issued a joint statement ?backing Powell after the Trump administration threatened him with criminal indictment.

"The matter concerns ?the ?BOJ's own judgment, so the government ?will refrain from commenting," said Japan's top government spokesman, Chief Cabinet Secretary Minoru Kihara, in a ?regular press conference. (Reporting by Kentaro Sugiyama and Makiko ?Yamazaki; Editing by Jacqueline Wong)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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