As yet another indication of a sea change in the macro-economic environment, the Bank of Japan signaled a shift in its monetary stance today by announcing that the 10-year government bond yield can go as high as 0.5%, up from the previous cap of 0.25%.
With the era of easy money in the rear-view mirrors, the smart money has given up its pursuit of speculative and unproven investments and banking on profitable businesses with robust demand and margins immune to an increasingly probable economic slowdown.
