BoJ stuns buyers into action, drives wave of deals

The first week after the Bank of Japan’s shock announcement of a vast new programme of quantitative easing gave a startling glimpse of the likely longer-term effects of the latest shot in the arm for capital markets across the world. The promise of a $1.4tr monetary easing programme from the BoJ drove a surge of dealflow across almost all asset classes as international investors scrambled to position themselves ahead of an expected rally when Japanese buying is mobilised in force.