BOJ effect: Japan's corporate debt yield hits record low of 0.0000000091% - Bloomberg

Japan's corporate debt yield has hit a record low of 0.0000000091%, courtesy of Bank of Japan's market-distorting ultra-low rate policy, according to Bloomberg. 

Toyota Finance Corp. will be issuing two tranches of JPY 20 billion in three-year and five-year bonds each on Oct. 25, it said last week. Notably, the three-year note will yield an unprecedently low 0.0000000091%, which means a trader buying 1 billion Yen of the bonds wouldn't even make 1 Yen on maturity. 

Even so, the demand for the three-year note was brisk, according to underwriters. 

The record low yield comes a month after the Bank of Japan said it will buy corporate bonds worth about JPY 125 billion on Oct. 24 and about JPY 100 billion on Nov. 29.