Global Retaliation To QEternity Begin: BOJ Considers Additional Easing
Last week it was the Fed crossing the Rubicon with infinite easing. We explained very clearly that the next steps would be everyone else joining the infinite easing party. Sure enough, here comes the first one:
- BOJ TO CONSIDER ADDITIONAL EASING: NIKKEI
Keep in mind that the BOJ already monetizes ETFs and REITs, the very instruments which the Fed will soon be forced to buy. And so it begins - because when it comes to pushing CTRL and P, over and over, it really doesn't take much skill.
It also means that the next round of purchases of precious metals will come from everywhere else, in addition to just the US.
Finally, those wondering why there was absolutely no response out of the market to news that previously would have sent stocks soaring, the answer, as we explained before, is simple: the Fed has literally shot itself in the foot... and the head. Because when you tell the market to price in QEternity, you just can't hope any more QE anywhere, anytime, out of anyone, will be a surprise.
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