We are in full blown rally mode in Asian markets, as well as U.S./European futures, after the Bank of Japan surprised markets with an all hands on deck thrust into the abyss, moving interest rates to -0.1%. The dollar is soaring v the Yen. The NIKKEI is up more than 500–even crude is higher.
This rally is going to stick.
This is an important step towards fending off deflationary pressures, ignoring Japan’s aging population who keep their money tucked away in banks like morons. From hereon-forth, said morons will have to pay their local bank for the pleasure of holding their money.
The banksters have a strong racket going.
UPDATE: The NIKKEI gave up a 500 point advance and is now lower by 170. S&P futures are barely higher and the Bank of Japan played itself.
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Amazing. Paying your bank to hold your money.
Fucking short that you bearshitters. LOL.
Why will rally stick for U.S.?
i am guessing, mainly
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Verne says HEY !!!
😉
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This is unprecedented, unchartered and (un)model(able) event. Not something that will have prudent investors running towards risk assets.
US index futures down, dollar up, treasuries up on the news. Oil roughly unchanged. Interesting day ahead.
Could get ugly tomorrow
It’s game over for Japan. They have no fossil fuels of their own and have to import everything. The best course for them will be to just throw in the towel on modernity.
The only good choice left to them is to go medieval…give up on the hopeless 150-year-long project of being an industrial-technocratic modern super-state, and go back to being an island of a samurai warriors and artistic hand-made culture.
Annnnd…It’s gone. I think that market just ran everybody’s stops and limit orders no matter how ridiculous positioned they were.
How will Yellen react to the BOJ move?
will a Tsunami of global capital inflows concentrate in the American markets like back in the days of the Nikkei
Dec. 29, 1989, Japan’s Nikkei Stock Average finished the year at an all-time high of 38916
Hopefully sane heads prevail and /NQ is off by 1000 NASDAQS by 0930
Japan gets to have all the fun…