Japanese Jawboning Fail – Nikkei Crashes 1000 Points From Overnight Highs
- Japanese Jawboning Fail – Nikkei Crashes 1000 Points From Overnight Highs
by Tyler Durden, www.zerohedge.com
For a brief few minutes, overnight saw exactly the reaction that central planners had hoped for when The Bank Of Japan announced it would buy ‘moar’ stock ETFs and extend bond duration buying ad nauseum. However, within just 15 minutes something happened that we haven’t seen since the world embarked on this experimental nightmare. Despite the front-ran promises to buy Japanese stocks “whatever it takes” traders sold… and sold large.
After a 500 point “business as usual” spike, Nikkei 225 crashes over 1000 points as traders recognized The BoJ’s desperation…