Hi Scott ... I know you advocate unsterilized intervention here ... What would be the top three or four assets you would like to see central banks buy? There seems to be a gentlemen's agreement not to buy bonds of other major economies, so I guess that's out.
Additionally, what percentage odds would you put on NIRP working as planned in Japan? Do the mechanics work in such a way that NIRP would "get the reserves created by QE MOVING" or is that not the right way to think about it? Thanks ... Kgaard
Kgaard223 karma
Hi Scott ... I know you advocate unsterilized intervention here ... What would be the top three or four assets you would like to see central banks buy? There seems to be a gentlemen's agreement not to buy bonds of other major economies, so I guess that's out.
Additionally, what percentage odds would you put on NIRP working as planned in Japan? Do the mechanics work in such a way that NIRP would "get the reserves created by QE MOVING" or is that not the right way to think about it? Thanks ... Kgaard
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