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Bank of Japan’s Assets Drop for 2nd Month in a Row
The total assets on the Bank of Japan’s balance sheet as of June 30 fell by ¥3.8 trillion from May, the second month in a row of declines after having already dropped by ¥2.2 trillion in May from April. At ¥732.7 trillion, total assets are now at the lowest level since February 2022. In dollar terms, total assets dropped by $44 billion over the past two months. This might come as a surprise to the good folks in the US financial media and in the blogosphere who, without ever looking at the BOJ’s balance sheet, had been yelling for months about the huge amounts of QE the BOJ was doing to keep the 10-year yield ... (full story)