Tag Archives: Bank of Japan

Dollar-Yen Trades Above 90

The dollar/yen traded with a 90 handle today its highest level since June 2010.   Probably the most popular macro trade of 2013,  the move has been supercharged by the country’s deteriorating balance of trade and expectations the Bank of Japan … Continue reading

Posted in Currency, Japan | Tagged , , , | 1 Comment

VIX Has Largest Weekly Down Move Since Inception

The CBOE has a nice piece out noting this week’s 39.1 percent collapse in the VIX was the largest weekly percent down move since the index was launched in January 1990.  The week also saw record volume days for the … Continue reading

Posted in Global Stock Performance, Monetary Policy, Sovereign Debt | Tagged , , , | 4 Comments

Bank of Japan Eases

Bank of Japan announced this morning it would increase its Asset Purchase Program by 10 trillion yen, from 91 trillion to 101 trillion yen. They split evenly, buying 5 trillion in T-Bills and 5 trillion in JGBs.  The Bank released … Continue reading

Posted in Japan, Monetary Policy | Tagged , , | 3 Comments

BoJ Ups Asset Purchase Program

QE everywhere! Nikkei and dollar/yen rocking. (click here if table is not observable)

Posted in Monetary Policy | Tagged , , | 1 Comment

Why the Yen is swan diving

The WSJ does a good explaining what is driving the Yen and seems to agree with us that there is a huge difference between quantitative easing to stimulate the economy versus monetizing bad government debt for which there is no … Continue reading

Posted in Black Swan Watch, Japan, Monetary Policy, Sovereign Debt | Tagged , , , | 3 Comments

Don’t Fight the Bank of Japan!

The Nikkei 225 has been flying, while the global markets are down to flat,  since the November 5th Bank of Japan announcement that it would be purchasing equity ETFs as part of its QE program (click here for our post).   … Continue reading

Posted in Equities, Monetary Policy, Policy | Tagged , , | 1 Comment

Bank of Japan Outlines Nikkei ETF Purchases

After yesterday’s FOMC action and Ben Bernanke’s Op/Ed in the Washington Post essentially stating the Fed is targeting the stock market, we now get the Bank of Japan’s outline for asset purchases. Next week the BoJ begins buying Nikkei and … Continue reading

Posted in Black Swan Watch, Commodities, Gold, Monetary Policy, Policy | Tagged , , | 1 Comment

Gold and the QE War?

This is going to an interesting week for gold.  We expect some currency fireworks as the Bank of Japan draws a line in the sand for the Yen around the 80 level.  Will the Japanese respond to QE2 with more … Continue reading

Posted in Currency, Gold, Monetary Policy, News, Policy | Tagged , , , | Leave a comment

The Three Legs of the Q4 Melt-up

1)  Under allocated investors… 2)  Expectation of a Republican victory in the  November election… 3)  The Flood of Liquidity unleashed by ultra-loose global monetary policy… “The Bank of Japan will encourage the uncollateralized overnight call rate to remain at around … Continue reading

Posted in Commodities, Credit, Currency, Equities | Tagged , , , , , , | Leave a comment

Central Banks Gone Wild: Paulson Says Gold Price to $4,000

The Gold fear trade is back on.  That is, traders and investors fear they are not long enough.  The Bank of Japan really got the party started as Bloomberg reports, “The unexpected decision by the Japanese central bank yesterday to … Continue reading

Posted in BRICs, Commodities, Credit, Currency, Gold, Monetary Policy | Tagged , , , | Leave a comment