What Happens if the Bank of Japan Owns All the JGBs?

Central bankers around the world are finally showing signs of vulnerability. The one thing they've had in their favour that's kept them business longer perhaps they should have been, is that the market hasn't had the courage to test them. And i think i get the sense that's going to change. It feels like we re at one of those points in federal reserve where you can go back and say 'we maybe should have acted sooner' We don't know what will happen if japan does do a swap between the bank of japans and the moff. But just like we've seen with the yen here, which has been stable for a long, long ime, suddenly people are

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