I think the MOF and BOJ exercise their facility for cruelty. Just as Bond shorts were clinking the champagne glasses, the following non-expansionary policy guidance appears:
JAPAN GOVT PANEL: MONETARY EASING MUST BE BACKED BY GOVT'S FISCAL DISCIPLINE TO AVOID CONCERN ON MONETISATION
Again, the "Widowmaker" trade's reputation is not undeserved...
Thursday, June 06, 2013
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