- Wealth PMS
As the Nifty drops 230 points in four days, we wonder what's really happened that caused us to become bearish. For one, it was Kuroda - or the lack of Kuroda. The Japanese Central Bank's now famous "I Give Up" statement - not in those words, obviously - were a testament to these times: we actually believed that a head of a Central Bank which has printed truckloads of money, owns more than 50% of the country's Equities in the ETF market, and has had negative interest rates so much that rates are negative even for new 30 year bonds . . .