The Road To 1600

NOTE: Every week or two I wrote a Client Note for my clients. I post the notes to my blog but with a time delay usually between 1 day and 1 week. To receive the Client Notes at the same…

The BOJ Goes QE

It is an extraordinary measure for a central bank, particularly the purchase of financial assets to encourage the decline in risk premiums.  To be explicit on that point and to extensively influence market interest rates and risk premiums, the Bank…