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Japan Pre-Open: Equities Green, Bonds Red, Abenomics Blue

Submitted by Tyler Durden on 05/30/2013 19:56 -0400

JPY is clinging sheepishly to the 101 level versus the USD almost as if there is an 'agreement'. It has been testing this level for a week now with many viewing the 100 line in the sand as a pass/fail mark for Abenomics. Tonight's heavy data flow is mixed. While we noted yesterday the inconsistencies in Abenomics, there are two interesting anecdotes this evening worth paying attention to. First, Household spending missed expectations by the largest amount in 18 months (not a good sign for real growth coming back); and second, in a brief moment on CNBC this afternoon, the CEO of Japan's mega corp Sony admitted that while, "the preconception is that a weaker Yen is good overall. Unfortunately for us, versus the USD, it goes the other way." Futures markets signal a green open (just like last night) for the equity markets and a slight red open for JGBs.

USDJPY hovering at 101 for a week...

Japan's PMI beat expectations as did Industrial Production though the latter remains -2.3% YoY.

Japan All Households Spending YoY missed expectations of +3.0% coming in at +1.5% (from an exciting +5.2% last months)...

Forward to 09:15 in the following clip to hear the CEO of Sony lay down some truthiness on Maria B about the weaker JPY...

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Thu, 05/30/2013 - 20:09 | 3612120 ApollyonDestroy

Fuck you Bernanke

Thu, 05/30/2013 - 22:33 | 3612498 The Shootist

Yen price stabileety. Are they trying for 200 or something, because, they failing.

Thu, 05/30/2013 - 20:14 | 3612130 Dareconomics

Japan is just full of surprises.

http://dareconomics.wordpress.com/2013/05/30/around-the-globe-05-30-2013/

Thu, 05/30/2013 - 20:14 | 3612131 lolmao500

Print moar!

Thu, 05/30/2013 - 20:15 | 3612134 DirkDiggler11

Yea, the FU Berskanke is getting a bit tired, although it does capture the overall sentiment of most on this site.

How about Die MotherFucker Die Central Bank Scum-Lord ?

I know people out there tonite more creative than my tired ass can think up a new Berskanke slogan ?

Thu, 05/30/2013 - 20:21 | 3612154 Pure Evil

To much typing, FU BB much shorter.

Must save fingers for all inclusive rant at later interval.

Thu, 05/30/2013 - 22:13 | 3612433 loonyleft

I think this sums up my feelings on Bernanke and all.

http://youtu.be/3r9mexeTL_o

Fri, 05/31/2013 - 08:30 | 3613059 asteroids

Where is IntheMix? I love it when he fires up...

Thu, 05/30/2013 - 20:17 | 3612143 kevinearick

Sony, like all the others, is a demographic insurance/ensurance company, is it not?

Thu, 05/30/2013 - 20:22 | 3612146 Cdad

So...have the failed masters of the universe selected a new FX correlation trigger momentum ignition thingy now? You know...to replace all old things like fundamentals, economies, and laws and regulations?

Oh...and would somebody just haul the financier backing all of this endless crap [Ben Bernanke] out of his office, and explain to him that it is time to spend more time with his family? I would greatly appreciate it.

Thu, 05/30/2013 - 20:25 | 3612162 Pure Evil

Of course seeing The Bernanks head rolling down the isle and delivered on a silver platter would make for one glorious and victorious moment, but the FED Hydra would only grow a new head in its place that could be even moar usurious.

Thu, 05/30/2013 - 20:34 | 3612181 disabledvet

Is this the part in Little Shop of Horrors where The Plant says "feed me"?

Thu, 05/30/2013 - 20:37 | 3612189 thismarketisrigged

i cant wait to here tomorrow morning on cnbc the reason for u.s casino being up is following japans overnight lead, when we have not followed them once when they sold off sharply.

im trying to be patient, its getting tough

Thu, 05/30/2013 - 21:09 | 3612269 chump666

Another correlation for bull/bear markets (mostly bull) in this rigged market. Is the EUR and the ECB/NY Fed pledge of the 1.30 support. Any bounce, even with Japan blowing up, will 100% guarantee Europe markets will be bid, follow onto Dow and S&P futures bid etc.

The EUR confidence rigged trade is to keep the HFTs happy.

Thu, 05/30/2013 - 21:12 | 3612302 fonzannoon

So if Japan blows up the S&P goes up? I believe it.

Thu, 05/30/2013 - 21:14 | 3612309 M2Market

Awaiting yen, JGB and Nikkei all start to go down in sync. When foreign money buys Nikkei they need to buy yen to position it; now that if they want to leave they must join the yen selling parade to get their money out

Thu, 05/30/2013 - 21:33 | 3612344 Mr. Saxby

Maybe Sony will have to pull a Toyota and start manufacturing in the New 3rd World: Amerika.

Thu, 05/30/2013 - 21:40 | 3612360 q99x2

Goldman Sachs funded CNBC headlines are hammering at the truth one by one in efforts to kill the mind of man. Cliches about deflation, Word bites about pension funds. Giggles from gold. All carefully chosen to destroy the individual and any morality they may have. The war rages on Homey. :Let truth be your guide.

Thu, 05/30/2013 - 21:54 | 3612388 BigInJapan

"The video you are trying to access is no longer available".

That was fast disappearing behind Team Japan's firewall, now wasn't it?

Japan Pre-Open: Equities Green, Bonds Red, Abenomics Blue

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