Thursday, April 04, 2013 9:59:24 PM
Counterfeiters...Japan's the gamer...
STTG Market Recap
Overnight the Bank of Japan came in with a massive new quantitative easing program akin to $75B+ a month. That is almost as big as the Federal Reserve's $85B but considering the Japanese economy is a third the size of the U.S. it is massive in a relative sense.
This announcement crushed the yen, and drove the Nikkei up. The few Japanese stocks on U.S. exchanges also rolled higher as we continue to live in a world of currency wars and central banks intervening in supposedly free markets.
STTG Market Recap
Overnight the Bank of Japan came in with a massive new quantitative easing program akin to $75B+ a month. That is almost as big as the Federal Reserve's $85B but considering the Japanese economy is a third the size of the U.S. it is massive in a relative sense.
This announcement crushed the yen, and drove the Nikkei up. The few Japanese stocks on U.S. exchanges also rolled higher as we continue to live in a world of currency wars and central banks intervening in supposedly free markets.
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