
What, one might ask, is the hurry? In a world where time is money, the BOJ has decided that time is, in fact, the enemy. The plan calls for the sale of ¥330 billion ($2.2 billion) worth of ETFs annually, a sum that at market prices swells to ¥620 billion ($4.2 billion). A drop in the ocean, perhaps, but enough to send ripples through the markets. The Nikkei, that barometer of Japanese economic sentiment, dropped over 1%, while the yield on the 10-year Japanese Government Bond (JGB) rose to 1.64%. A modest reaction, one might think, but in the delicate balance of financial markets, even the smallest tremor can trigger an avalanche. 🏔️