A moderate stimulus package from the Bank of Japan overnight got the final trading day of the week off to a disappointing start, leaving traders to look towards the large number of earnings and data releases today to pick them up again.
Days like today once again make you question whether the central banks really are reaching the limits of what the markets consider to be effective monetary stimulus tools. With interest rates already negative and government bond purchases at or near the limit of what is feasible, central banks have had to pursue other unconventional tools which have failed to get the markets too excited.
