BOJ Yield Curve Move, Topix Buying Lifts Risk Appetite: Citi
Source: BFW (Bloomberg First Word)
People
Todd Elmer (Citigroup Inc)
To de-activate this alert, click here
UUID: 7947283
(Bloomberg) -- BOJ introducing two wrinkles that were not fully discounted may be seen as a net positive for risk appetite, Todd Elmer, FX strategist at Citigroup says.
Alert: HALISTER1- BOJ using forward guidance more actively follows move by other central banks
- Implication is that BOJ is giving itself additional freedom to shape yield curve, and it’s voicing that this is an explicit aim
- Also, additional freedom to maintain the current policy track indefinitely
- Buying of ETFs that track TOPIX is likely to be interpreted as an effort to help provide support for banks, says Elmer
- USD/JPY up 0.85 to 102.55
- Topix index up 2.5%
Source: BFW (Bloomberg First Word)
People
Todd Elmer (Citigroup Inc)
To de-activate this alert, click here
UUID: 7947283