BOJ doing Bernanke's work for him

And now this today from Bill Gross:

Mr. Gross, manager of the world's biggest bond fund at Pacific Investment Management Co., said he turned positive on Treasury bonds maturing in 10-years or sooner because the BOJ's aggressive plan to buy Japanese government bonds will drive Japanese investors to seek higher returns in other markets overseas. He said this will lift prices of assets around the world, including U.S. Treasury bonds. The Bank of Japan announced its aggressive easing plan last Thursday. "This BOJ printing seeps out daily into global markets as Japanese institutions, which have sold their Japanese government bonds to the BOJ, look for higher-yielding replacements," Mr. Gross said in an email interview Tuesday afternoon with the Wall Street Journal. "Ten-year Treasurys to us look very low yielding, but to them, they yield 125 basis points more."

In other words, now we have not only the Fed, but also the BOJ working to keep US interest rates at artificial lows.