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Biggest Japanese IPO Of The Year Plunges; Stocks And JGBs Fading Fast
A smorgasbord of secondary Japanese data missed expectations this evening and while all appears relatively calm if you just look at USDJPY, it is anything but in the stock and bond markets which have both lost significant ground already. Nomura launched the largest IPO of the year (Nomura REIT) and it is down 4.8% out of the gate (at least they didn't pull the 'market conditions' trick so many US companies fall back on) but the broad TOPIX index is down 2.4% and unable to find any dip-buyers to encourage. Financials (-3.4%) and Consumer stocks (-2.5%) are the worst with Utilities modestly bid (+0.3%) for now. JGBs were following the 'open down, rally gently higher for the rest of the day' pattern of the last three days but soon after the BoJ announced its buying program at 9ET, the selling escalated. All-in-all, it is more of the same from the US day-session but with JPY oddly quiet for now as the JGB market remains mildly out of control...
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Japan launched their biggest IPO in this market?
I am starting to believe it is the only free market left.
Balls!
freefall market maybe.
Is there a fat woman in Japan?
Can someone please find her? She's on deck, and we need to ensure her vocal chords are nice and warm.
Aces & Eights is what the heads of the BoJ, Fed and ECB have been dealt, even if no one has stated the obvious yet, and even if the comedic refrain of "no one could've seen it coming!" is tossed out with reckless abandon in the wake of the next meltdown.
The last one to leave; please turn off the printing presses. Conserving energy will be very much a priority in the weeks, months and years to follow.
of course they did. they still think the BoJ can save them.
Gotta get it while the gettin's good. More capital for the company (and underwriters, of course), fuck the new shareholders. Like FacePlant.
Fuck you BernankAbe!
Bernankabe +100 because it sounds like a new sport.
BernankerADE and you got a new sports drink.
BernankerADE -- filled with short critical quantative minerals.
LMAO! The Japs are following the Fed. playbook, 'hook -line & sinker'.
We're doing the same thing as the US, why aren't we getting the same results?
(I thought about saying that with a Japanese accent but decided it would be raciss.)
You have to do it(POMO) every day, and especially moar on Tuesdays. :-)
They're selling to buy all the rice they can possibly hoard. Stuff it in under the floor boards, in the ceiling, wherever there is a spot.
I'll say it...
Is this the big one ?
probably not. I wonder how many decades of retardation we have left...
BTW 10 year Jap yields first hit zero in1995
The lowest rates ever got at the height of the housing bubble was 6% (2004-2006)
Probably not, agreed. But I can't imagine it lasting even one full decade now. The pace of decay - economic and moral - is accelerating. People don't want to contemplate the consequences of this decay but doesn't mean they aren't coming. And the denial just brings it closer.
Martin Armstrong's models indicate something major this month.
Given his past accuracy, we might be in for an interesting couple weeks.
Martin Armstrong's models predict something major every month, why should June be any different?
Oh yeah? So tell us what will we see? Will something go greatly up, or will something go greatly down? Unless Armstrong can tell us that he is just hot air (I hate to be the one to splash some cold water on you but even I can say something 'big' is going to happen every other week).
Man up, spill the beans and make a prediction. Otherwise, go away. Nobody's got time for this dick-tease bullshit.
The only Divine Wind I am aware of is from Armstrong's ass LOL
Yeah, but nobody ever talks about his fuck ups.
And ever since he left prison hes bad mouthed gold nonstop. Why is that?
As a stacker myself I have wondered about this.
I understand the content of his explanation and reasoning, though I disagree in light of the underlying fundamentals for the metal.
fukushima whole foods ipo (FUKU) next?
What's the deal with San Onofre?
Sketch.
I heard a nuclear engineer discussing it a few months back.
Faulty replacement parts, from Japan nonetheless.
Now the facility has been sitting idle for so long there were major concerns about the integrity of critical systems, corrosion, etc..
Has anyone else also noticed that the Nikkei always ends the first half (just before lunch) at roughly the same level as when it opens? (and then we either plunge or rally)
Market?
The future of the world depends on this but what it is nobody knows.
On a realted note...
I don't know which ad to click - "ChnLoveDate" or "President Christie - Vote In Our Poll".
I expect the result of either choice to be the same, ie. "Whores On All Fours", but the amount of personal gratification I would receive???
Looks like Ben has been giving his Japanese friends lessons in ramapalooza. Nikkei on a tear now and aiming to finish flat.
Is is just me or does this susshi smell "off" to you?
Wha? Oh, that's your... Whaaa? Oooh...
PS: Didin't I tell you a few days ago in the last Richard Koo article that "Nomura's a bit of a fucking joke over here"?
Somebody didn't get the memo.