Bloomberg article of real interest, available for free if you register with them.
I think there are enough other big deal macro affecting things going on in the world to completely fog the window on this, but the article breaks beyond most of the Fed tunnel vision articles I see dominating the press.
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Yahoo news link.
{. Last month’s decision by the Bank of Japan to steadily shrink its portfolio of bond holdings in coming years means it’s now engaging in balance-sheet contraction alongside the Federal Reserve, European Central Bank and Bank of England. While QT, as it’s known, is different in each jurisdiction, it involves a withdrawal of the liquidity that central bankers pumped into their economies during the pandemic crisis by buying bonds. }
ralph