Guess How Much Japan's Stock Market Rose In January?

Tyler Durden's picture

There is a rising roar of bulls stampeding to the Japanese stock market. Whether due to Abe's apparent "this time it's different" cratering of the JPY to aid exports (and avoid deflation) or just plain old momentum (as the Nikkei 225 is nominally up almost 8% in January). However, just a little reminder that this return is priced in those increasing worth-less JPY. For all those exuberant overseas investors eying the gains, the reality is that, in USD, Japan's stock market is almost perfectly unchanged since 12/28 - Currency Wars indeed...



Charts: Bloomberg

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Whiteshadowmovement's picture

OT: Does anyone here trade mREITs? If so, have you seen the absolute headscratcher in terms of dislocations within this sector. Case in point: AGNC vs. MTGE. Same company, same strategy, just a technical difference really. MTGE has made new highs while AGNC is still in dead-beta prison

Midas's picture

I gots me some NLY.  The graph looks like the Rocky Mountains, Aspen to Denver unfortunately.   Its not that bad though, with the hefty dividend I am probably around even.  I can't predict what will happen since our buddy the ben bernanke is the central scrutinizer and determines the fate of nearly every market.  Maybe not Bitcoin.  Maybe.

Whiteshadowmovement's picture

Hey Midas, thanks for your reply. Ive stayed away from NLY as I never thought the management was up to par with Gary Kains over at AGNC and MTGE- i own them both nd IVR. I bought them both right after ex last quarter on the belief thata earnings in both companies will vindicate the management for not cutting the dividend, the idea that the buybacks were a success, and that they perhaps realized some comp. Income.

Heres what leaves me baffled, MTGE is way up, yet AGNC which is for all intents and purposes same management, strategy etc. Seems to be tracking NLY despite much lower cpr risk.

I cwnt believe the total dislocation within these sectos, some are way up like MTGE and IVR, some are middling like AGNC and some are in the dog house like NLY. As though there was a mountain of difference between their respective fundamentals...

IridiumRebel's picture

Zero?.....I say zero....

Banksters's picture

Smoke and mirrors.    See, all better.


SheepDog-One's picture

Zimbabwe asking for contributions from the world so they can hold their rigged elections and distribute kickbacks.

Anyway, who cares about Japan? DOW 14,000 #WINNING baby!

Cognitive Dissonance's picture

There was an article on CNBC mobile this morning about South Korea and other Asian countries rapidly getting pissed off at the never ending money printing by the US, Europe, GB etc. And now Japan has put the pedal to the metal.

I love the smell of currency wars in the morning. It smells like victory.

hedgeless_horseman's picture



Nobody is pissed.  In synchronized diving EVERY central banker is a winner.

It is the people that use the currencies on a day to day basis that are the losers, and they we are too stupid to be pissed.

“The few who understand the system will either be so interested in its profits or be so dependent upon its favours that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.”

—The Rothschild brothers of London writing to associates in New York, 1863, laying the groundwork for the eventual passage of their catastrophic Federal Reserve Act on December 23, 1913

DoChenRollingBearing's picture

I hope the South Koreans DO start their front in the Currency Wars!  That would only help our business in Peru.  I agree with h_h, I am not pissed at all.  If it helps our company, it's OK...

It's OK for gold too.

As unpopular as my recurrent remark is here at ZH, remember WE ELECTED (and so ENABLED the Fed) these politicians.  No matter what "Sgt_Doom" and others may say, WE are at fault too.  Put THAT in your pipe and smoke it.

NeedleDickTheBugFucker's picture

I guess "sheeple" wasn't part of the lexicon in 1863 so the Rothschild brothers went with "the great body of people".

firstdivision's picture

I released 1 Quadrillion Yen on the market and all I got was the "Unch" shirt.

Cognitive Dissonance's picture

"But thanks for playing." - Goldman

Wilcat Dafoe's picture

Maybe everyone's just making their money on volatility, keeping everything an uneven even.

It kinda looks like my E.R.A. over the course of college.  Not sure you could really point to a "trend" at any given moment in time.

tango's picture

Reminds of the Kyle Bass interview this AM where he states that yeah, the market may be up but inflation is eating away at any gains. That silent killer (one of Ron Paul's great phrases) will hurt folks more than any change is SS percent or health care bamboozle.

DoChenRollingBearing's picture

They all hurt the folks.  Inflation, payroll taxes, Obamacare taxes, taxes on capital (probably the best way to look at higher taxes on "the rich").

"Health Care Bamboozle", nice term!  Not so nice what it brings.

Dr. Engali's picture

I'm feeling wealthier already. So wealthy I'm going to add another AU eagle to the collection today.

unrulian's picture

good call....i'm going for a beer (strong) and a radioactive maple

dark pools of soros's picture

your coin dealer takes EBTs??  this is the first of the month

Dr. Engali's picture

I don't know. I'll have to ask them. I usually hang out at walmart on the 1St and wait for my EBT card to be loaded so I can stock up on ammo.

Navymugsy's picture

Note to self: No Iron Condors on Nikkei this year...

Smegley Wanxalot's picture

cheap products AND the hottest looking women in the world!  Nihon wa ichiban desu!


dark pools of soros's picture

and a culture that is convinced it will be the next Pompeii/Chernobyl/Aztecs/Dodos

adr's picture

Japan's women today make bull dyke man hating lesbos in the US look like Marilyn Monroe. Considering the average age over there is like 62, unless you have a granny fetish, you're pretty much screwed.

Cunt isn't a worse enough word for the new Japanese power woman.

Smegley Wanxalot's picture

So in other words, ADR, you can't get laid in Japan.

Stuntgirl's picture

I thought everyone got laid in japan...

falak pema's picture

in pappy diapers; yes they sleep well

If somebody can prove that being radiated increases your sex potency by 40 times, we may see a lot of people heading for Fuku beach.

Shiny shushi and shinier pappy boomers.

dark pools of soros's picture

don't hate the player...

NoWayJose's picture

Proving yet again that while you can make your stock market go up by devaluing your currency and flooding the markets with liquidiy - in the end you cannot 'make' wealth by doing so.  Of course, if you take the proper actions, and let the right people know ahead of time, you can inflate your stock market, get out near the top, then stop devaluing your currency.  It's been done before.

Inthemix96's picture

We are so full of the elixir of joyness,

We may as well be on smack.


smartstrike's picture

Where is Kyle Bass? Nips rock.

mikehuntsmells's picture

Fuck the Japs , I drive a German car , drink Italian red wine and am drinking Miller draft as I write. I dont care how cheap their radioactive shit gets.

Glass Seagull's picture

Shhhhhh!!! The GP won't notice if you don't tell them.


Aevery C. Banquer

falak pema's picture

You could say the same thing about the Footsie and the Pound :

Footsie 100 up 7.82% since Jan 1 2013.

Pound/Euro down 6.56 since Jan 1 2013.