Friday, April 5, 2013

Kamikaze Finance is alive and well…Abenomics meltdown in progress…Nikkei retreats over 450 points from highs JGB’s crashing

Japanese Bonds are reflecting the enormous divergence between the buying of everything and anything that BOJ today…Nikkei closed up 6.8% however, this is not the corollary for where the index should be given the expenditure of energy and pure destructive power from the BOJ…It should be much much higher given the massive buying BOJ have been doing - not just a 1.128 extention. The insanity of central bankers just does not stop…Paul Krugman seems to be about to get a taste of the results his rediculous theories…as Tokyo Stock Exchange halts JGB futures trade twice after drop!!!

Are BURNanke and GreenSPIN watching? JGB’s trade like CL futures…Months of EASING up in smoke in a few hours! Sell off supposedly triggered by one large bank…perhaps that bank is in trouble,  BOJ is in trouble if it can't fix it NOW...if margin calls are triggering this then there is a possible cascade more to come…banks with these positions in carry trades will be feeling big time pain unless BOJ gets it back under control.
“If what they’re doing gets something started, they may not be able to stop it” - Soros
“Big question is whether BOJ will be able to smoothly exit from this policy program w/o destabilizing JGB market & financial system” - BNP
See article at zerohedge - click here
Ten-year JGB yield reverses earlier fall to record low, rebounds sharply 
TOKYO, April 5 | Fri Apr 5, 2013 12:47am EDT(Reuters) - Yields on benchmark 10-year Japanese government bonds rebounded sharply from record lows on Friday as investors locked in gains a day after the Bank of Japan unveiled sweeping monetary stimulus to revive the economy 
The 10-year yield climbed 18 basis points to 0.615 percent in the afternoon session after dropping as much as 12 basis points in the morning to a record low of 0.315 percent.
Ten-year JGB futures dropped 2.49 points to 143.55 on the day to a near two-month low. They hit a record high of 146.41 in morning trade.
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