Japanese Stocks Tumble To 13-Month Low Against Dow After 35th Consecutive Trade Deficit

Tyler Durden's picture

After trading well above the Dow at last year's peak (and equal with it at 2013 year-end), the Nikkei 225 is now almost 2000 points below the level of the Dow - a 13-month low. Trading not far off the EM-crisis lows of January, Japanese stocks are fading as JPY can't sustain any offer and carry-trades are unwound. Not helped by yet another in a long and illustrious list of mssed trade balance figures since Abe took the helm. Elsewhere in Asia, USDCNY traded up to almost 6.20 (the Maginot line for many derivatives trades) and does not look like the PBOC has it under control and copper has dumped from earlier US exuberance; iron ore is flat; and Chinese stocks are down (along with US futures fading modestly).


35th consecutive trade deficit and 8th miss of last 9... J-Curve any day now... (as exports miss and imports jump - just wait til after the pre-consumption-tax-hike surge is wiped out).


Which leaves the Nikkei at 13-month lows against the Dow...


US futures are leaking lower as JPY cary unwinds...


Copper spilled...


and USDCNY does not look like the PBOC has it under control...


But apart from that - s'all good ahead of FOMC tomorrow.


Charts: Bloomberg

Bonus Chart: The much-anticipated $3bn IPO of Japan Display is a disaster!! -17% from its IPO opening and so sign of algo saviors for now...

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infinity8's picture

Yeah, they won't be alone. . .

TruthInSunshine's picture

I traveled for work for much of this month (hence my poor spelling due to this idiotic tablet) and can give an honest SITREP that a dramatically higher % of the industry & professional types I interact with no longer bristle at the suggestion that the real economy - the one where real goods & services are exchanged between parties for delivered consideration of real value - is in a state of rapid contraction, with a significant plurality (maybe 30%+) willing to accept the possibility, or suggest it on their own volition, that we're close to or in a "depression" (in their own words), not merely a slow growth state or recession.

This is the largest % of industry/professional types that I interact with, by far, who have voluntarily expressed this assessment to me (I don't make it a habit to inquire into such macroeconomic views as it offends people as does much unsolicited type discussion).

OldPhart's picture

I've believed we've been in a depression since 2008, only this time it's been hidden by phoney statistics, FED money pumping, and electronic food stamps.

Caviar Emptor's picture

Yes, Truth. The writing always was on the wall. But nobody dared to read it , let alone speak it. We are indeed depressed , economically, squeezed in the biflation vice grip of shrinking purchasing power. Adding to this is a growing gruesomeness that comes with living in a police state , where your every word and action is monitored. Ever wonder why zombie flicks are so popular?

venturen's picture

who cares as long as Washington gets a bigger cut and Wall Street bonuses are bigger than ever. Buffet and Soros are happy. So quit your whining....and go get some foodstamps.

mtndds's picture

Doesnt matter if things are falling apart overnight.  I will wake up tomorrow with the market being green, carry on!!

medium giraffe's picture

FOMC tomorrow, might even be double plus green.

TheRideNeverEnds's picture

Yea, I expect we go limit up on the open and stay there till the close. 

medium giraffe's picture

Agree, especially if they surprise the market by keeping rates unchanged.

X_mloclaM's picture

it's still 'untaper,' at 65, =

Darksky's picture

I thought the only limits were to the downside. Who in their right mind would limit the upside.

HaroldWang's picture

Yes, more than likely, the market will be green tomorrow. For four years I've tried to make people understand that they aren't willing to and won't let this market fall. You may hate it. I hate it. But it's the way it works. Machines are programmed to buy stocks with a put continually placed higher above. If you were and are willing to ride that, you'll make a nice amount of money; money to allow you to fight your battles.

Until you decide to let the system play out and play with it, you'll be out of money bitching and complaining on a comment section of a blog. Don't you at least think it's better to makes some money while bitching and moaning? Seems like a simple choice to me. And has been.

TruthInSunshine's picture

I'm short drip-drop deep OTM puts.

I'm fine with a Taleb modeled strategy at this point, knowing that I'll bleed some.

For all of Yellen's POMO & all Kuroda's Yen, won't put BRICs, the EU & U.S. (nor Japan, Canada, Australia, South Korea) together again.

(You have to be in it, even taking some initial body blows, to win it. Word to Tupac & Michael Burry, yo.)

X_mloclaM's picture

Well Taleb is no match for the Wilshire5000, we sure hope you got the dao of going left to go right. Perhaps 78 yen to the dollar, on an EZ, and then 'reluctant' Fed de-taper after Chiner crashes. This should help the LNG budget/

dirtyfiles's picture

rats start jumping the ship everywhere like  the traders jumping by the windows

TruthInSunshine's picture

I am in an overpriced Manhattan hotel room at this moment, and the first non-financial related suicide being discussed in New Yawk in a long time is that of Mick Jagger's girlfriend, which took place 2, maybe 3 blocks yesterday from where I lay my weary head now.

I am watching the windows for passing banksters, one eye open.

Baby Eating Dingo22's picture

Is that high value hooker stench on those pillow cases?

TruthInSunshine's picture

You're going to unnerved me b/c I'm a germophobe. I shudder to think of the perverted, filthy, diseased, incessant activities that have infected this "suite" prior to my arrival.

And this is one of the alleged finer hotels here.

(Calling front desk for new bedding & checking for bed bug bites).

New York City is such a shit hole that it boggles the mind how any sane person would want to live here. Maybe there ARE no sane people living here.

fonzannoon's picture

when u walk around tomorrow do the math in your head. i estimate 1 in every 4 people you walk past is totally fucking insane. 

TruthInSunshine's picture

I'm somewhat familiar with NYC and I think you're being far too kind to this fine city.

Even 50%+ of the suits are fuckin' wacko.

I'm on the borderline so am qualified to render an opinion.

Caviar Emptor's picture

2 super high profile suicides in one month in NY (one Oscar winner, one ultimate groupie). It's becoming de rigueur mortis

TruthInSunshine's picture

Traders jumping to their deaths by the dozens.

Bankers pneumatically nail gunning themselves to death.

Navy Seals dying of heroin overdoses in duets.

Boeing 777s disappearing w/out a trace.

Soaring equity markets amidst 5 years of ghost town department stores & supermarkets.

May we live in interesting times.

Tinky's picture

How long will you be in in NYC? I'd be happy to meet for a coffee/drink if you have some free time, and care to chat in person.

TruthInSunshine's picture

Until the morning of the 21st. I want to try & hit up Spuyten Duyvil if I can before I leave, though, given my excessive affinity for Belgian Ales.

I will probably be cruising ZH noonish or between 5 and 6 tomorrow so do that chat request & I will touch base.

Oh yeah, I have the company credit card with clearly ambiguous instructions on usage.

Tinky's picture

I'm flexible later today and tomorrow. I live on LI, but only about 40 minutes from Penn Station via LIRR. Let me know if your up for a pint and/or or a bite, etc.

You can email me directly at: doubleaccord (at) gmail

disabledvet's picture

It really pisses me off being suicided. I think that's what keeps me alive. "PHUCK YOU TOO GOD!" Having said that "how the winds of time move things." My faith in Him ironically has never been stronger. Fed sure...I never wanted to be on the wrong side of Him...and I feel nothing for those that bear no scruple being His exact opposite and opposed to all he teaches.

My best friend is a God-faring man. Wasn't always this way..two divorces, fooled around...still has one hell of an attitude problem. But he sets things right in the end...he has turned himself over and freely admits that...so in spite of all the slings and arrows of outrageous fortune...he keeps at it.

Very comforting to be around...not just as a person but as a place. "Nice flowers, peaceful setting...nothing but the Lost all around us."

In the end our material existence really is nothing. I mean Cuban doctors Venezuela? Fed real? How pathetic given all that has been squandered. You people shame God and The Lord....peddling such known and already failed idolatries and "faiths."

There is room in this world for industry...and the bounty that comes along with it. But there is never too much room for the love of our fellow man (and woman) in order that we can create a larger whole.

No mere "mortal" wrote the Bible. It only explains our sins and utter failure to do right by others.

So the lessons must be learned...and relearned...again and again and again. In this way the Wonder that is God is understood as something to truly behold. So much so it is utterly without merit to claim He does not exist. "Since I exist how is it possible for anyone to say that this is not true of Him?" (Yet this is all I am told by all but one. I have been told by children who have never faced the searing reality of war...that I should kill myself. I look at this I wonder "what would be going through the minds of man if I ate this child....even though I wasn't even hungry?") no one wants to "go there"...yet certainly there has never been a problem with mankind "hitting the send button." So "point in shame at the monsters their men of honor they have created"?

Having not even the concept of God in one's life truly is damning indeed. Humanity's flame does indeed burn eternally. In Hell...

X_mloclaM's picture

Ukraine and Syria back downs dissuade foreign 'confidence', as major peg in dollar (Treasury fiddles with data. Russia bad cop moves Ts)

NZ and Chiner begin direct FX, no USD demanded

Gold goes missing in Ukraine, no official update after the initial

Venezuela sees major attacks on anti socialist neighborhoods, elderly, young gassed

Arizona attempts to pass gold & silver as legal tender

Washington attempts to INTRODUCE/READ THE BILL ALREADY to pass gold & silver as legal tender

and Oklahoma attempts to pass gold & silver as legal tender

Baby Eating Dingo22's picture

It's said that if you close your eyes and breathe in slowly just through you nose, you could discern whether the whore who last had that pillow under her ass was white, black, Asian, or Hispanic AND if they were male or female.

Please note your reponses on the customer satisfaction card, assuming it's not stained and stuck to the nightstand.



OldPhart's picture

Wife and I went to New York as part of our 'First Vacation Ever' tour.  Spent three days there sight-seeing, stayed in hotel that still had a manually operated elevator (that broke down and I had to walk six floors to get a smoke).

Went out to eat at some restaurant, seems to have been some sort of steak house, and we were seated outside (by request) next to an open doorway back into the restaurant.  A black couple seated inside, next to us, on our outside was this French fuck dining with his date.

French fuck was doing all he could to impress her, told her he worked at the UN, that studies showed that the climate problem was primarily due to the US overwhelming use of oil, that the US created the oil shortage when Rockefeller created his monopoly, and that the ignoranti in middle America had no clue of the crimes they had committed against the world.

My wife grabbed my arm saying "I don't know how to get home".  My hand had a steak knife in it.

He was less than two feet away...I still regret it.

yrbmegr's picture

China must be dumping reserves to support the yuan.  They're fighting a big headwind, though, with the Fed on a long-term tightening path.

NoDebt's picture

Don't invest in dying countries.  Not for the long term, anyway.

Also, please realize that a lot of countries are dying.

Baby Eating Dingo22's picture

paying heed to US futures is just pissing in the wind

Jungle Jane will put in all in perspective-when the time is right, Say 9:30ish?

Caviar Emptor's picture

We're just feeling some tremors from burps inside the giant magma chamber that lives under this rigged market

q99x2's picture

Hey, Abe the FED's giving out copies of their stock index software. England used it this morning. If you get a copy, you should beta test it before putting it into production.

starman's picture

oh the smell of recovery, steaming world economys , higher stockmarkets,asset exubarance, soaring real estate prices, jobs and free health care for everyone and a ZULU warrior US president ......mom... mooom! can I get more cool aid here my killem all Xbox game froze...fuck!?

Spungo's picture

Thank god trade deficits don't matter.

FieldingMellish's picture

All over. Nikkei in green and Spoo heading there. Gold back to its COMEX trajectory (red). Yellen shoutin' tomorrow so the world has to see who is in charge. 5 more years of smoke and mirrors?

Hindenburg...Oh Man's picture

1345 on gold in the morning hours---big smackdown around 5 AM. Hard to believe that we were up to 1392 on Monday in the early morning hours.

rsnoble's picture

Next thing you know the US will crash and Japan will suddenly be cured and be the next big thing to pile money into. LOL.

Quinvarius's picture

It makes me laugh when people say the PBOC has no control of the exchange rate.  The rate is sitting exactly where the PBOC wants it to be because they put it there.  It is a government mandated exchange rate.