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"Get Back To Work Mr. Kuroda" Japanese Stocks Surge On Japanese Data Plunge

Tyler Durden's picture




 

UPDATE: That didn't last long... 60% of the gains in the Nikkei and the weakness of the JPY now retraced - as the market cries out for moar bad data...

 

Following last night's admission that if central bankers get found out for monetization that it all goes pear-shaped, it seems tonight's epic miss in Japanese Industrial production and Household spending has done nothing but push the hordes of levered speculators into an "if-bad-is-good-then-terrible-is-awesome" buying frenzy. The 3.3% MoM IP drop (compared to a -1.5% expectation) is the largest since Feb 2009 (ex Tsunami) and among the largest MoM drops in the history of the data series. The miss is the largest in 2013 (since Abenomics began) and makes it 6 of the last 8 months missing expectations. Household spending shrank for the 2nd month in a row, missing expectations for the 3rd month in a row. Of course, being the well-trained muppets that they are, this data brings buyers into the Nikkei which jumped 180 points even as JPY gapped only around 30 pips weaker.

 

The Data...

 

and the inevitable Moar QQE reaction...

 

Charts: Bloomberg

 

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