From the Wall Street Journal overnight:

  • Bank of Japan has been significantly stepping up its purchases of domestic exchange traded funds
  • Through a trustee, the central bank purchased a combined ¥92.4 billion ($904.2 million) in ETFs over the first six business days of August
  • That’s the BOJ’s longest and largest consecutive buying streak since it started purchasing ETFs in December 2010
  • Speculation is rife that the BOJ is following an unwritten rule, called “the 1% rule” by traders, where it buys ETFs after the Topix index falls around 1% in the morning session

More at the (gated) article: BOJ Steps Up ETF Purchases as Shares Slump

–

Can we please call it the Kuroda Put?