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Daily Kickstart (Japan Battles Bond Markets, Mexico/Turkey Battle FX Traders, May Meets W/Trump)
As is rapidly becoming custom, we start with FX markets, where the USDJPY rose again, recapturing a 115 handle following the BoJ's 10th bond buying operation of the month.
If we hit 116, the dollar rally could gather some momentum "as the market seems to be short vol above that level," one European trader told Bloomberg.
Remember, the BoJ has pledged to keep JGB 10s anchored at 0%. The target amount for 5-to-10 year debt was raised to JPY450 billion at Friday's operation from JPY410 billion ea
