Full Week Ahead Preview: Fed In Focus

Hopefully, the weekend gave you a chance to catch your breath after “Super Thursday.”

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Bank Of Japan’s ETF Holdings Surge 80% To Cartoonish 16,000,000,000,000 Yen

“The total marks an 80% rise from a year earlier and more than a sevenfold increase since the central bank kicked off its quantitative and qualitative easing — adding riskier assets to its balance sheet — in April 2013.”

Revisiting The “Tokyo Whale”

“We assume the BoJ’s current ETF holdings stand around ¥15.7tn ($144bn), i.e. approximately 75% of the total assets in Japanese equity ETFs.”

Traders Be Like “WTF?!” As Trump Is Desperate Despot, Nuclear War Beckons

So the elephant in the room is clearly Donald Trump’s decision to fire FBI Director James Comey who is (wait, “was”) conducting an investigation into the administration’s ties to Moscow. There’s also the imminent threat of another nuclear test from North Korea but, in a testament to how surreal the geopolitical picture has become, “nuclear war”…

Kuroda Shrugs, Twitter Lampoons Sweden, Deutsche Crumbles: Welcome To Thursday

Ok, so as detailed earlier this morning, the first thing you should note about the overnight session was the action in the loonie and peso following Donald Trump’s decision to avoid ripping apart NAFTA (for the time being). You can read the full story on that with some additional color from FX trader Mark Cudmore…

This Is How Much QE Matters…

Right, so 10Y yields are all anyone wants to talk about. In fact, you’ve probably heard so much about Treasury yields this week that you’re about to click out of this post right now (just admit it). But wait! Because we’re not going to talk about what levels are “key” here. We’re not going to…

China Calls, Hikes Rates After Fed; Kuroda Triples Down On The Laughs After BoJ

It was a fairly lively overnight session on the heels of the Fed. We start in China where the PBoC imported themselves a rate hike, although not “officially.” As you may or may not be aware, Beijing has essentially shelved policy rates in favor of repo rates when it comes to tightening. Thursday’s hike… PBOC RAISES…

The First Week Of The Rest Of Your Life

Welcome to the first week of the rest of your life. By now you all know what’s coming and if you don’t, well, you can review the HR weekend reading or you can simply scan the short version here. Overnight, the action found the dollar adrift (although it did bounce a bit later in the…

Your Quick Guide To A Big Week

As you’re aware, this is a big week. The Fed takes center stage, but the Dutch elections loom large on the geopolitical front and we’ll also get Kuroda on Thursday. And then there’s retail sales, CPI, and the BOE (a likely snoozer). Below, find a quick preview from Goldman that should help get you all set…

“And You Thought The Bernanke Put Was Dead”: World’s Biggest Pension Fund Posts Largest Quarterly Return In History

Do you know what helps out a whole helluva lot when you’re massively long Japanese equities and when you need a weaker currency to boost your overseas holdings?

Markets Relieved After Trump/Abe Meeting, Reflation Narrative Intact

Well, it was all aboard the reflation train right out of the gate in early Asian trading last night with USDJPY jumping with 10Y yields and futs, following what counts as a “successful” high level summit these days. As I noted last week, the fact that Trump didn’t physically assault Japanese PM Shinzo Abe (well,…

Analyzing Yen-Sanity Ahead Of Friday’s Trump/Abe Pow-wow

Watch USDJPY. I say it all the time. There is perhaps no better real time referendum on markets. On Thursday, Trump’s efforts to hype up his tax reform agenda in comments reportedly made to airline executives triggered a sharp rally for the greenback just before 10 a.m. EST. The gains held. Remember, this is all…

On Payrolls Friday, One Trader Asks: “Are You Feeling Lucky?”

Here we are on payrolls Friday after a week in which a lot of sh*t happened. But really, when you think about it, not much happened at all. The Fed was a complete snoozer. I mean even more so than people expected it to be. “Deer in headlights” comes to mind. Or maybe it’s that…

Daily Kickstart (US Payrolls Awaited, China Tightens, BoJ Flouts Trump)

“Non-Farm Friday is no time to plead exhaustion,” Bloomberg’s Richard Breslow wrote earlier this morning as we look to close out a rather trying week (mentally anyway) on a high note in the US.  We’ll get payrolls on Friday and the market will be eyeing the report even more closely than usual, as we look…

Daily Kickstart (Dollar Dumps After Fed Farce, Deutsche Bank Plunges)

Perhaps fearing some kind of Erdogan-esque reprisal from the White House, the Fed pussyfooted its way through the January/February statement, seemingly content to let Peter Navarro coordinate America’s FX policy for the time being. Of course there are other reasons why the Fed might have chosen to effectively play the background. That is, it’s not…