BoJ twist may wind equities, bonds and JPY in a declining trio

Posted on September 14th, 2016

The BoJ appears to be massaging market expectations towards expecting a policy announcement on 21 September designed to lower short-term yields and raise long-term yields in Japan (‘operation reverse twist’).  This could be achieved by lowering the NIRP and adjusting the JGB purchase program to buy less long-term bonds.  Recent speeches by BoJ Governor Kuroda […]