It probably won’t be long before it is the largest holder.
For much of the past decade, the Bank of Japan – which owns about 80% of all ETFs in Japan was the butt of capital markets jokes, or rather jokes involving central planning, of which the Japanese central bank had become the “new normal” poster child. Alas, the joke is now on the US, where Jerome Powell is now boldly going where Haru Kuroda has gone so many times before, and bought anything that is not nailed down.
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Author: Nick Sorrentino
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