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Is The BOJ Quietly Intervening In Oil/Commodities?
As we said last week, the significant highs and lows in markets over history have been marked by some form of intervention (whether it be public or private policy actions). Of course, we’ve been predicting some form of intervention, and soon, to remove the systemic risk posed by persistently weak oil prices. It just so happens that key markets (oil, stocks, interest rates) all bottomed on February 11, and have move sharply higher, in unison, since. What happened on February 11? You guessed it. Intervention. We’ve said that the best suited for the job of intervening to stem the threat of weak oil prices would be ... (full story)