 Yen has surged and Nikkei Japan shares trashed. The initial headlines were that the BOJ had left its policy unchanged, which they have. to maintain a -0.1 target for short-term ratesand a 0 cap for the 10-year bond yield around 0BUT they widened that band in which they allow the 10 yr JGB to move from 0.25 to 0.5. This, in effect, is a long-awaited pivot from the BOJ. A mini pivot for sure, but given nothing was expected until April, its sig... 