In a surprise move given all the recent congratulatory bullshit from Abe and Kuroda on breaking the back of Japan’s deflation and bring about recovery (forgetting to mention record high misery index, surging bankruptcies and a crushed consumer), the Bank of Japan (by a 5-4 vote) raised its bond-buying program from JPY 70 trillion to 80 trillion… and increases its ETF buying to JPY 3 trillion. This move, on the heels of more confirmation of broader foreign asset purchases in Japan’s GPIF sent USDJPY instantly gapping 1 big figure higher to 110.30 and Nikkei futures instantly rose 400 points. S&P futures are also surging. Gold and silver are tanking.
- *BOJ UNEXPECTEDLY TARGETS BIGGER EXPANSION OF MONETARY BASE
- *BOJ TARGETS 80T YEN ANNUAL EXPANSION IN MONETARY BASE
- *BOJ SEES RISKS IN CHANGING DEFLATIONARY MINDSET
- *BOJ AIMS FOR ANNUAL INCREASE OF 80T YEN IN JGB HOLDINGS
- *BOJ EXPANDS PURCHASES OF ETFS TO 3T YEN
BoJ Statement
- *YEN DROPS TO 6-YR LOW AT 110.12 PER DOLLAR AFTER BOJ
- *NIKKEI 225 SURGES MOST SINCE JUNE 2013 AFTER BOJ ADDS TO EASING
Nikkei 225 is up 700 points from this afternoon’s 2-week old headline and broken markets!!
S&P futures are surging…
Gold was pushed lower…
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It seems money does grow on trees…
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Welcome to your fundamental-driven markets!! The farce is almost complete.
via Zero Hedge http://ift.tt/1ub7vpQ Tyler Durden