Russ Koesterich and Negative Interest Rates

Black Rock Inc.: The central bank decision at the end of last month to adopt negative interest rates punished banking shares, sending the market to a 15-month low on Feb. 12, according to The Japan Times. But that and other stimulus measures will hold down the yen and help boost corporate earnings, said Russ Koesterich, global chief investment strategist at the $4.6-trillion money manager. Black Rock Inc. is bullish on Japanese shares even after this year equity rout sent the Topix index into a bear market. We are overweight Japanese equities, Koesterich said in an emailed response to questions. The Topix surged 8 percent last week, its best performance in six years. The BOJ negative interest rate surprise, in addition to the existing quantitative easing program, should keep a lid on the yen in the near term and buoy exporter earnings, which are expected to be ahead of other developed markets. (news.financializer.com). As reported in the news.