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Market Extra: How a ‘twist’ by the Bank of Japan could upstage the Fed

The Bank of Japan could end up stealing Janet Yellen’s thunder on Wednesday.

While shifting expectations for the two-day meeting of Federal Reserve’s rate-setting committee that ends on Sept. 21 has remained the primary driver for U.S. financial markets, it’s the news that will come out of Tokyo a few hours earlier that could be equally, if not more, important to asset prices next week.

Read:Central bank developments are only game in town for markets

Financial markets are in a “dangerous place” right now, “jammed between the BOJ and the [Federal Open Market Committee],” said Ward McCarthy, chief financial economist at Jefferies, in a Friday note.

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