Amazing How the Money-Printing World Has Reversed by Wolf Richter • Oct 9, 2025 • 77 Comments Balance Sheet as % of GDP: Fed, ECB, BOJ, BOE, and Central Banks of Canada, Australia, New Zealand, and Sweden
Bank of Japan Balance Sheet QT Accelerates: -$148 Billion in Q3, -$407 Billion fr. Peak. Will Sell ETFs, REITs. Sold all Bank Stocks by Wolf Richter • Oct 7, 2025 • 40 Comments Its holdings of commercial paper & corporate bonds are nearly gone. The BOJ is cleaning up its balance sheet.
The Foreign Investors Who Bought the Recklessly Ballooning US Treasury Debt and Why They’re so Important by Wolf Richter • Sep 18, 2025 • 48 Comments With US debt issuance threatening to blow all fuses, foreign demand is an increasingly important question.
The Foreign Investors Who Bought the Recklessly Ballooning US Debt: July 2025 Update by Wolf Richter • Jul 18, 2025 • 91 Comments US Treasury debt surged by $441 billion since the debt ceiling, to $36.7 trillion. Foreign demand for this stuff is an increasingly important issue.
Bank of Japan Balance Sheet QT: -¥12 Trillion in Q2, -¥39 Trillion from Peak, to ¥717 Trillion. Sold Nearly All its Bank Stocks by Wolf Richter • Jul 7, 2025 • 28 Comments Quantitative Tightening accelerated further. With its bank stocks gone, the BOJ may start selling its equity ETFs soon.
The Somewhat Bedraggled US Dollar against the Euro, Yen, Canadian Dollar, Dollar Indices, and Soft Currencies like the Indian Rupee by Wolf Richter • Jun 24, 2025 • 38 Comments No longer the cleanest dirty shirt.
Japan’s 30-Year and 40-Year Bonds Crater, Yields Spike, Huge Mess Coming Home to Roost. Yen Carry Trade at Risk by Wolf Richter • May 20, 2025 • 115 Comments The BOJ’s QT, inflation that’s higher than in the US, an atrocious fiscal mess, a devalued yen, it all comes together.
Bank of Japan’s QT Accelerates, 2 Years Behind the Fed & ECB, but Now Visibly Part of the QT Party by Wolf Richter • Apr 7, 2025 • 14 Comments BOJ Quantitative Tightening: -¥18 trillion (-$120 billion) in March, -¥27 trillion YoY, to ¥729 trillion total assets, lowest since December 2022.
Status of US Dollar as Global Reserve Currency: Central Banks Diversify into Other Currencies and Gold by Wolf Richter • Mar 31, 2025 • 114 Comments The surge of the “nontraditional reserve currencies.”
Inflation Spikes to 4.0% in Japan, Much Worse than in the US. BOJ Babied its Rate to Just 0.5%, with More Baby Hikes in View by Wolf Richter • Feb 21, 2025 • 51 Comments The strategy: Let inflation rip to bring the horrible debt-to-GDP ratio down. Households & yield investors pay for it. Turns out, no free lunches after all.
