Archive for June 11th, 2013

Central Bank Watch

Bank of Japan Review and Interpretation

June 11, 2013

The Bank of Japan’s decision not to expand monetary easing in general or take direct action against higher long-term interest rates in particular triggered a rather violent adverse market reaction, all of which was opposite in direction to the broad goals of quantitative and qualitative monetary easing. Last November when the genesis of massive monetary […] More

New Overnight Developments Abroad - Daily Update

Difficult Tuesday for Stocks and Sovereign Debt Instruments

June 11, 2013

Markets reacted with disappointment to the Bank of Japan statement and press conference.  Investors wanted but didn’t get any new initiatives to address the rise of JGB yields since the current policy was launched a bit over two months ago.  The 1-year period for the fund-supplying operations was not extended, and Governor Kuroda explained that […] More