The Bank of Japan’s most anticipated policy announcement in years left investors underwhelmed, sparking a surge in the yen and sending government bonds and emerging-market stocks lower. Japan’s currency rallied against all of its 31 major peers after the BOJ kept its government-bond buying target and policy interest rate unchanged, opting instead to increase exchange-traded fund purchases.
Caption
Projectile cartridge cases are heated in the heat treat shop as a part of the production process at Scranton Army Ammunition Plant on December 8, 2023. (DVIDS)