If you answered the S&P 500, you'll get an A+ on one of those silly MSM man-on-the-street interviews the media loves. In fact, you'll probably know more about the market than the person posing the question.
In our recent "Upcoming Week" post we raised the issue of the BOJ's timing, the Fed closes one door and the BOJ opens another, about collusion. Collusion is just another name for market manipulation.
We said a cynic might voice some skepticism particularly since both BOJ and Federal Reserve bankers got want they wanted out of this market-surprising ploy that wrong-footed just about anyone and everyone.
According to what we've seen, the BOJ governors voted by a slim 5-4 margin for the move. What's happening here is another beggar-thy-neighbor move: Japan exports more products to hopefully boost its pathetic economy and the U.S. dollar becomes the currency bully in a global pool of currencies primed for getting sand kicked in their faces.
It's a short-term win-win since the nervous Nelly Fed buys more jockeying time and the Fed gets more room to figure out where it stands on the deflation-inflation barometer. Hollywood scripts should be written so cleverly.
Next up the ECB. For a variety of reasons, most just bureaucratic excuses for we don't have a clue, the ECB has tried to get around large asset purchases. ECB President Mario Draghi's Do-Whatever-It-Takes leash just got a lot shorter.
So the drama continues and the market's reaction next week should entertain if nothing else.
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