You will hear about this tomorrow: Bank of Japan basically broke the world tonight.
A minor policy tweak has huge implications that will take weeks to play out.
BOJ was the last low yield holdout and now that changes. Spike in rates, stocks lower (for weeks), + chaos.
— Christian H. Cooper (@christiancooper) December 20, 2022
The Bank of Japan just pulled Leroy Jenkins on the global financial system.
— Marty Bent (@MartyBent) December 20, 2022
The Bank of #Japan blinked and pivoted in the opposite direction. After artificially holding the 10-year JGB yield at .25%, the BOJ just raised the target rate to .5%. More hikes are coming. In the U.S. this means the #dollar and asset prices will fall and #inflation will rise.
— Peter Schiff (@PeterSchiff) December 20, 2022