Big day for equities in Japan and around the world, as at least temporarily the bulls are back in control, as the Fed brought the markets an early Christmas present. We are skeptical of the FOMC’s actions (see our reaction).
At any rate, the Nikkei 225 and TOPIX both rallied 3.7%. For coverage of the BoJ’s decision see “BoJ Keeps Rate at 0.5%; Stocks Surge on U.S. Rally” on Seeking Alpha.com.
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