Monday, October 4, 2010

Bank of Japan Will Buy Anything and Everything, Almost

Bank of Japan has just said it will buy long-term government bonds, commercial paper, asset-backed commercial paper, corporate bonds, index ETFs, funds that invest in REITs. To do that, the bank will set up a special fund (35 trillion yen total - about 419 billion USD) on its balance sheet.

Nikkei spikes on those words..

They LOWERED the rate to zero, too. (0% to 0.1%, to be precise. It was 0.1%.)

As rubiofromitaly at Yahoo board says, "That is the sayonara wave for we are going down the toilet all together....kumbaya."


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