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Tag Archives: bank of japan
Just Because the Hedge Fund Wise Guys Have Forgotten
JUST BECAUSE THE HEDGE FUND WISE GUYS HAVE FORGOTTEN Today’s post will be about Japanese yen vol, but I am sure to bore some readers with that topic, so I am starting with something a little more interesting. As many of you know, I am a little bit of a bitcoin skeptic. At the end […]
Japan’s “Deflationary Mindset” Grows As Household Cash Hordes Reach Record High
Japan’s “Deflationary Mindset” Grows As Household Cash Hordes Reach Record High After being force-fed more stimulus than John Belushi, and endless rounds of buying any and every asset that dares to expose any cracks in the potemkin village of fiat folly, Japan remains stuck firmly in what Abe feared so many years ago – a […]
Fed’s Asset Bubbles Now At The Mercy Of The Rest Of The World’s Central Bankers
Fed’s Asset Bubbles Now At The Mercy Of The Rest Of The World’s Central Bankers “Like watching paint dry,” is how The Fed describes the beginning of the end of its experiment with massively inflating its balance sheet to save the world. As former fund manager Richard Breslow notes, however, Yellen’s decision today means the […]
Both ECB And BOJ Are Just Months Away From Running Out Of Bonds To Buy
Both ECB And BOJ Are Just Months Away From Running Out Of Bonds To Buy With the Fed contemplating whether to hike again next month and start “normalizing ” its balance sheet before the end of 2017, the two other major central banks are facing far bigger problems. * * * Two months after the […]
A Problem Emerges: Central Banks Injected A Record $1 Trillion In 2017… It’s Not Enough
A Problem Emerges: Central Banks Injected A Record $1 Trillion In 2017… It’s Not Enough Two weeks ago Bank of America caused a stir when it calculated that central banks (mostly the ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion […]
Traveling Circus
Traveling Circus After Wednesday’s policy statements by the Fed and Bank of Japan, a harsh light is being shined on the incredible nature of their communications. It would be wise in the current environment to structure investment portfolios with a pro-volatility bias. Central banks in G7 economies have been carrying a heavy load for a […]
State Street: “Move Over Zero Hedge, There Is A New Bear In Town”
State Street: “Move Over Zero Hedge, There Is A New Bear In Town” By Mr. Risk – State Street Global Markets Unleash Volatility Beast Thanks for nothing, central banks! If central banks provided the prototypical inflection point, risk assets should get destroyed next week. Feast your eyes on a compendium of volatility charts. The beast […]
Like Everything Else, History Repeats (Almost Exactly) Because Power Truly Corrupts
Like Everything Else, History Repeats (Almost Exactly) Because Power Truly Corrupts With both the Bank of Japan and Federal Reserve today undertaking policy considerations at the same time, it is useful to highlight the similarities of conditions if not exactly in time. As I wrote this morning, what the Fed is attempting now is very nearly […]
Not Even Goldman Has Any Clue How The BOJ Will “Control” The Yield Curve
Not Even Goldman Has Any Clue How The BOJ Will “Control” The Yield Curve The biggest news overnight, and certainly far bigger than this afternoon’s non-event from Janet Yellen, was the significant change in monetary policy announced by the BOJ which (belatedly) unveiled its re-revised “QQE”… this time “with Yield Curve Control” (or “QQEWYCC“), a […]
Time to Get Real: Part I
Time to Get Real: Part I In a world where fair value is a central bank veiled enigma it’s frankly a challenge to keep things real, but I’ll have a go at it in what will be a 3 part series covering central banks, the underlying fundamental picture, and a technical assessment of charts. In this part I’ll be covering […]
A Convocation of Interventionists – Part 1
A Convocation of Interventionists – Part 1 Modern Economics – It’s All About Central Planning We are hereby delivering a somewhat belated comment on the meeting of monetary central planners and their courtier economists at Jackson Hole. Luckily timing is not really an issue in this context. Central bank headquarters: the Fed’s Eccles building, the […]
Will Japan Be the First to Test the Limits of Quantitative Easing?
WILL JAPAN BE THE FIRST TO TEST THE LIMITS OF QUANTITATIVE EASING? The Japanese stock market peaked in December 1989, marking the end of a period of economic expansion which briefly saw Japan eclipse the USA to become the world’s largest economy. Since its zenith, Japan has struggled. I wrote about this topic, in relation […]
Mutiny Among The “Magic People” – India Central Banker Admits “The Ammo Is Almost Gone”
Mutiny Among The “Magic People” – India Central Banker Admits “The Ammo Is Almost Gone” The self-described “magic people” who “give to the markets” are facing a mutiny this morning as Raghuram Rajan, the head of the Indian central bank, admits central banks and governments of rich countries are running out of ammunition for stimulating their economies… […]
Kuroda-San in the Mouth of Madness
Kuroda-San in the Mouth of Madness Deluded Central Planners Zerohedge recently reported on an interview given by Lithuanian ECB council member Vitas Vasiliauskas, which demonstrates how utterly deluded the central planners in the so-called “capitalist” economies of the West have become. His statements are nothing short of bizarre (“we are magic guys!”) – although he is […]
What Comes Next——Krugman’s Fiscal Equivalent Of War
What Comes Next——Krugman’s Fiscal Equivalent Of War Somebody must have reinstated Paul Krugman’s passport. He was recently back in Japan to meet with the world’s leading economy-wrecking triumvirate —-Prime Minister Abe, BOJ Governor Kuroda and Finance Minister Taro Aso—–to dispense some desperately needed advice. Japan is on the verge of a second recession during Abe’s tenure despite his plunge […]
