Are BURNanke and GreenSPIN watching?...as 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” - BNPSee article at zerohedge - click here
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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