Arguably the biggest event overnight was yesterday's BOJ announcement which was widely expected to be non-event, yet ended up being anything but, when, as expected, the Bank of Japan did announce it would keep overall JPY80 trillion monthly QE unchanged, as forecast by 41 of 42 economists, however it also announced it would extend the average maturity of JGB holdings to 7-12 yrs, would establish a new program for ETF purchases targeting the stocks issued by companies "proactively making investment in physical and human capital", and lastly
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Thirty Years of Zero Price Discovery in Silver
Written for Sprott Money by Jeff Nielson (CLICK FOR ORIGINAL)
Submitted by Koos Jansen via BullionStar.com,
The very reason I became interested in gold after the financial crisis in 2008 was because of Dutch gold guru, author, journalist, entrepreneur, and fund manager Willem Middelkoop. When I started reading his books I was immediately obsessed with economics and the gold market – along with thousands of others across the world. Who would have thought that I would become a precious metals analyst a few years later?
Among the fixed income community, this week's most important number, more so than the pre-telegraphed 25 bps increase in the Fed's interest rate, was the weekly report of capital flows in and out of bond funds by Lipper/EPFR, which came out moments ago and which following last week's junk bond fund fireworks involving Third Avenue and several other gating or liquidating funds, was expected to be a doozy.