Don’t worry, we’ll be up by 9:45am.
The Bank of Japan didn’t provide markets with additional crack-cocaine. Subsequently, investors are throwing infantile tantrums, selling off the NIKKEI and U.S. futures.
The yen is soaring v the dollar up by 2%. The NIKKEI had been higher by 2%, but is now off by 2.5%. S&P futures are down 10.
Poor Japan will have to make due with a paltry budget of just 80 fucking trillion yen, to buy up excess ETF supply.
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5.8%
wow
and I’m sure you’re right. s&p prolly ending tomorrow higher buy 4 points with more vol selling
what an awesome business model. Create ETF so that BOJ can buy it … awesome.
Compare these:
1) China: BOC buys corporate stocks
2) Japan: BOJ buys ETFs which buy corporate stocks
3) Europe: ECB buys corporate bonds from companies, which then buy back their own stock
4) USA: FED buys busloads of Treasuries at above market rates, dropping interest rates so that companies can issue bonds at low costs and then buy back their own stock
More desperarate situations call for more transparent methods