A disorderly shift in Japan’s monetary policy could spark bond-market contagion and increase risks of a ‘financial accident,’ Mohamed El-Erian says

• Japan needs to be mindful of its yield curve control exit, Mohamed El-Erian wrote in Bloomberg.

• A disorderly exit would create volatility in world markets, and add to risks of a
  “financial accident.”

• But Japan needs to accelerate the phase-out, the top economist added.

Japan’s central bank should be mindful of how it ends the country’s yield curve control policy, as any mismanagement could roil global markets, economist Mohamed El-Erian wrote for