Name These Two Markets

Tyler Durden's picture

The following two charts represent the equity market performance of two rather well known nations in the last 6 months or so. One is a country  on the verge of cataclysmic currency devaluation and the other is in the middle of a catalcysmic currency devaluation. Of course, both would be at the top of every CNBC talking head's list of buys since performance has been so great - so which would you prefer? As we celebrate USDJPY 100, Nikkei 14,500, and whatever else it is that we should be celebrating about the surging input costs for Japanese businesses - the lesson is clear for those who want to send their market soaring - crash your economy.



P.S. based on Bloomberg's latest data, the Nikkei is opening at a P/E around 29x - that is all.

Charts: Bloomberg

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Lost Wages's picture

The Omega Markets.

zorba THE GREEK's picture

We can eliminate the gold market to start. The Greek Bond markets?

Vampyroteuthis infernalis's picture

In both cases, fraud driven markets.

B2u's picture

Spain and Greece?

venturen's picture

Number of bankers the devil controls?

ApollyonDestroy's picture

The first is Japan, and the second is us the united states of shitheads. No? Is this rhetorical? Today has been such a long day

100pcDredge's picture

And ehm... name this 'market' as well: without cheating.

q99x2's picture

Pittsburgh and Azerbaijan

Aurora Ex Machina's picture

Aliens are coming in September. No-one important gives a fuck anymore.



Welcome the desert of the real.

UP Forester's picture

Hope the aliens bring their swimsuits, the global coastal event starts before the end of the month....

Jason T's picture

Nation 2 is Japan.. but nation 1 is not argentina nor Slovenia nor cyprus nor Britain.

still searching 


Jason T's picture

is Argentina.  That Marvel index.

Nation 1 is Argintina

Nation 2 is Japan



rubearish10's picture

Any market except PM's and Miners.

rubearish10's picture

Buying USDJPY is so addictive. Feels like QE, oh wait.....

machineh's picture

Unfortunately one can't trade ARS/USD, except by carrying a wad of fresh hundreds to Buenos Aires.

But here's the chart of the peso's collapse, under Argentina's Peronist flake government:


rubearish10's picture

Lastly, JGB's, bah!

Howard Bork's picture

Tyler: Please plot the Nikkei on P/B or EV/EBITDA.  Its among the cheapest in the world.  P/E looks high only becuase corporations are loaded with cash.  But, if you want to promote only a specific agenda feel free to data mine to find the numbers that help your case.

Raynja's picture

all that cash that is worth 30% less now? 


Ballin D's picture

Why would you plot an equity index on EV/EBITDA? Id rather see a figure that actually represents the value of equity without the extra noise.

thismarketisrigged's picture

i can tell u what both of these markets have in common.


they are both fucking ponzi schemes, yet they are allowed to continue. fucking criminal

John Law Lives's picture

FUBAR1 and FUBAR2...

q99x2's picture

Meat and Potatoes

polo007's picture

Since the financial crash of 2008 the western economies (US, Euro zone and Japan) have been using quantitative easing (QE). QE is not new. It was also used extensively in the 1930's. Japan has been using forms of QE for over a decade. But when one looks at the velocity of money and the money multiplier the money is not getting into the broader economy. But it is getting into the stock markets largely through the large money center banks that are the major beneficiaries of QE. Rising stock market valuations help the money center banks balance sheets. It is believed for the US at least that QE is primarily to help prop up the banking systems in the US, the Euro zone and Japan. The banking system remains saddled with huge amounts of debt that is either toxic or uncollectable.