Stark Raving Mad.

“Let me in.”


To Neverland And Beyond.

“… because the idea that what you see in that chart has nothing to do with what you see in the two charts below is clearly ridiculous.”

Janet. Fed Preview

Good luck out there – your fate rests on the shoulders of a diminutive economist with a pixie cut…

Save The Date: By ‘End-March 2019’ The Japanese Stock Market Will Cease To Function

“This could cause the number of shares circulating on the market to almost completely dry up for some stocks.”

A ‘Gettin’ Away With Murder’ Type Of Day: Thursday Market Wrap

Thursday was all about people who might have gotten away with murder…

Kuroda Vs. The World: BoJ Moves On The 5Y As YCC ‘Mission Creep’ Looms

Dammit no one is really talking about this, but it’s definitely notable. On both Monday and Tuesday we said that Japan has set its sights on JGB 5Y yields. Basically, the 5Y has become the new frontier in capping 10Y yields. “It looks like the BoJ may now have to fight to contain 5Y JGB…

Global Stocks Are Happy. Gold Is Sad. China! I Found Some Inflation In Norway.

Well, I’d say “it’s quiet out there,” but that’s cliché. So how about this: “ain’t shit shakin’ but the leaves in the trees“. Ok, maybe a few things happened while you were asleep. But not much. Let’s walk through some things. We got China PPI and CPI, with the former printing +5.5% for June, in…

“A Major, Serious” Situation In Japan, PMIs Galore, And A Deadline For Qatar

Ok, so Shinzo Abe’s LDP suffered a stunning loss in Tokyo assembly elections over the weekend, winning their lowest number of seats ever, and that prompted calls for a cabinet reshuffle. “It looks like a tough situation,” LDP Secretary General Toshihiro Nikai said on Sunday. “This is major, it’s serious,” independent political analyst Minoru Morita added. “He…

Bank Of Japan Breaks Bond Market As Holdings Rise To Hilarious 387,000,000,000,000 Yen

“Most central banks are playing at 10, all the way up, all the way up, you’re on ten, where can you go from there?” 

Peter Pan’s Revenge: Kuroda Thinks You’re Crazy To Think BoJ Is Not Still Crazy

“The moment you doubt whether you can fly, you cease forever to be able to do it.”

Full Week Ahead Preview: Fed In Focus

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

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…