What is the Future for QE and the BOJ?
The more Haruhiko Kuroda does, the more convinced traders become that the yen’s appreciation is out of his control. The Bank of Japan’s Wednesday decision marked the fifth straight meeting that saw the yen gain by the end of the trading day. Governor Kuroda and his board shifted the focus of stimulus from expanding the money supply to controlling interest rates, pledging to pin benchmark 10-year yields around zero. Algebris Investments Head of Macro Research Strategies Alberto Gallo discusses this and if a Trump presidency would derail a Fed rate hike in December with Bloomberg's Mark Barton on "The Pulse."