"The Rubicon Has Been Crossed": The BOJ Now Owns More Than 50% Of All Japanese Bonds… and as Japan's Nikkei reports, the share of Japanese government bonds held by the Bank of Japan just topped 50%, hitting a record Ponzi high.
A little over three years ago, the Bank of Japan crossed a historic milestone when we reported that the central bank had become a top-10 shareholder in 50% of all Japanese companies. Since then, the central bank's equity stake across Japanese corporations has only grown.
One week ago, we also reported that the BOJ was on the verge of crossing the final "50%" Rubicon, when as consequence of the latest surge in bond buying by Kuroda's central bank meant to prevent the bank's Yield Curve Control from collapsing, the BoJ was brought to a place it almost certainly never envisaged when it started QE as a “temporary” measure back in 2001 – owning virtually half of the JGB market.
As Bloomberg's Simon White said last week, "we are in uncharted territory as no other major central bank has crossed this threshold before."
https://www.zerohedge.com/markets/rubicon-has-been-crossed-boj-now-owns-more-50-all-japanese-bonds