The Bank of Japan Was The Biggest Buyer Of Japanese Corporate Bonds In April

Read more on this subject: Central Banks/Banking
News Story Source:, by Tyler Durden
We find this confusing: how is the Fed owning bonds either a bullish or bearish case? It merely confirms that capitalism is now dead, that we have centrally-planned, "fake markets" as Bank of America put it, and which as Deutsche Bank further clarified, "these are administered markets and market outcomes will be dictated by the policy goals of the Fed and Treasury, and the tools they select to implement policy."

That bulls are taking this fact as an affront, simply shows just how vested they too are in perpetuating a myth that markets still exist (as if it is somehow the imploding economy and not the Fed's $4 trillion in liquidity injections since March that has boosted the stock market) while pretending they have some idea of what happens next based on "fundamentals" or "data" when in reality the only thing that matters is how much liquidity the Fed injects on any given day, making strategists, analysts and "paywalled pundits" i
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