Commenting on the world’s major central banks decision to enhance their dollar swap lines, the Bank of Japan said the swap lines will serve as an important liquidity backstop to ease strains in global funding markets.
“Swap lines will help mitigate effects of strains on the supply of credit to households and businesses, both domestically and abroad,” the BoJ added.
US stocks extend rebound
After struggling to gain traction after the opening bell, Wall Streets main indexes started to push higher in the last hour. At the moment, the S&P 500 is up 0.8% on the day while the DJIA and the Nasdaq Composite are adding 1% and 2%, respectively.
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