Within two years, the central bank will own 20% of the long-term debt the Japanese government has sold at auction, up from a little over 12% currently, according to some estimates.

WSJ: Japanese Government Bonds Soar

"There have already been stories about this auction in Serbo-Croatian, Hungarian, Chinese and Japanese!"

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After the failure of a German bund auction, interest rates began to climb in Germany, and so did Japanese rates that have been near zero for almost a decade!

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Japanese bonds broadly finished the day down however, as investors took a step back before a 10-year bond auction on Tuesday and a 30-year auction on Thursday.

WSJ: U.S. Data Dog Asia Markets