BOJ's Halloween Surprise

"It's the chocolate covered finger of a man named Clark!"
--Mary Sanderson (Hocus Pocus)

Bank of Japan's trick last night of announcing an added $10-20 trillion/yr purchase of bonds and other assets resulted in a treat for world financial markets. World stock markets howled higher overnight and investors hopped on their broomsticks to carry US equity markets to alltime highs.

Naturally, gold dropped to new lows for the move.

The question of what happens once the costumes are put away remains. Once confidence in central bank monetization policies recedes, then the real fright begins.

position in SPX, gold