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USDJPY, Nikkei 225 Tumbles After Disappointing "No Change" From Bank Of Japan
We noted earlier the premature exuberation in USDJPY and Nikkei 225 - despite most of the sell-side not expecting anything from The BoJ - and it appears the banks were right and the FOMO traders wrong. The Bank of Japan made no change to its monetary policy (no increased buying, no shift in ETF allocations, and no NIRP for now). BoJ members spewed forth their usual mix of "everything is awesome" and "any quarter now" for the recovery but the market wasn't buying it. That leaves only one thing left to cling to for a "we must buy" crowd - no change today 'guarantees' moar QQE in October.
"No Change"
- *BANK OF JAPAN LEAVES MONETARY POLICY UNCHANGED AS FORECAST
- *BOJ RETAINS PLAN FOR 80T YEN ANNUAL RISE IN MONETARY BASE
- *BOJ: CPI LIKELY TO BE ABOUT 0% FOR TIME BEING
- *BOJ: TO CONTINUE QQE UNTIL STABLE 2% INFLATION MAINTAINED
Nikkei plunges...
And USDJPY tumbled...
Of course - the propaganda attached to the statement was sickening...
- *BOJ SAYS EASING IS EXERTING INTENDED EFFECTS (a collapse in householding spending and real wages)
- *BOJ SEES ECONOMY CONTINUING TO RECOVER MODERATELY (heading back into 4th recession in 4 years)
It's not our fault...
- *BOJ: EXPORTS, PRODUCTION AFFECTED BY SLOW DOWN IN EMERGING MKTS
"More or less" is the new normal...
- *BOJ: PRODUCTION HAS BEEN MORE OR LESS FLAT
- *BOJ: EXPORTS HAVE BEEN MORE OR LESS FLAT
- *YAMAMOTO: JAPANESE ECONOMY IS TREADING WATER
Better spend some more on ETFs...
Charts: Bloomberg
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Did I say that JPY could go right back to where it was eight hours ago about an hour ago?
Fuck the topic. Should I buy gold at $980 or $700?
Yes.
i think $650
Stop deliberately misspelling the word more! It is neither big nor clever.
Only didit once -
sensitive today perhaps ?
anal retentive much ?
Bad doggie - what a disgusting handle - or is it a misspelling of Dogbert, perhaps ?
Spurting dog - must get mindwash now.
moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar moar
I propose the new spelling, "mwhore."
more
moore
mower
moar
moor
It would appear that the Nikkei carshed back to its prior level.
If many on this site are proven correct, the entire market may carsh later this year, no matter how much moar QQE is injected into it.
In spite of moar, and moar, and ever moar QQE intervention, the Nikkei has yet to reach its high set in 1989 of 38,915.
Not surprising at all, and it will not come back to nearly 39k in our lifetime. Production has gone to China or elsewhere, consumer confidence has crumbled away because it's now all short-term jobs so people hold on to their money. They really did think that they could increase job flexibilities and people would spend the same as before. Add to that the new expenses for the military, i.e. not producing any value, and yes, poor old Japan is limping.
i remember when nikkie was at 39000.. its started to fall at 1000+ points per day.. i was there at the exchange.
Never expected t to fall this much for this long.......... I guess thats what every one thinks of the US situation ie the DOW must be at 100000 in 1 years time is the normal expectation.
But what happens if its at 4000 in 10 years?
Like japan,the US will still be the 2nd biggest economy or so with QE forever just like japan.... but the market is no where near its record highs.
So QE doesnt mean record high stock markets. Maybe the US QE ends its way up in china... just like japans QE ends up n the US
I don't like coffee in plastic cups. But I am OK with paper cups in the sleeves. My usual cup is porcelain. Who I help make the bed
Sleeves are for pussies.
I buy my coffee, if I have to buy it, from some gas station, at $0.75 a cup, which to me is outrageous, we used to have a restaurant here, back in the 60's/70's, "Coffee Nickel a Cup" And by God, you'd have a tick mark for each cup. The bill could come as high as $1.00 if two peole were talking.
Disappointment because the wide-open spigot was not made even wider-opener.
I only want to trade the Russian ruble(and possibly a slightly used Russian wife of 11 years. She is only 34 so shut up). I don't want to do a forex trade digitally. I want crisp 1000 ruble notes or preferably MOAR of those Crimea coins. I only have one damned Crimean Annexation mint set out of Russia thanks to capital controls and that was a pain in the ass. No, you do not have that set. Why does anyone care about some nickel crap coins and and scrip paper? Is it a war of who's is worth less? Or who's digital digits are worth less?
I don't know. If they keep beating silver up I might just need some MOAR of that instead.
Screw the markets! It appears that one can make Moar money playing fantasy football.
What's up with silver eagles being 25% over spot.
Something doesn't seem right. Arrest Lloyd Blankfein.
No soup for you!
Nikkei saved the 18k for today. But China was ugly.
Shanghai Comp -3.5%
CHINEXT -5.7%
Shenzhen Comp -5.0%
CSI 300 -3.9%
table overview on: http://www.denk-bubbles.com/china-15-sept-15
CSI 300 now -10.8% YTD. Anybody feels the need to panic maybe?
No, it's all contained! Or as the PBOC said to G20 two weeks ago: "The correction is already mostly over".
"MOSTLY"! WTF!
Requiem:
Tomorrow I have to put down my twenty two year old cat. The one that wouldn't die.
We can peg her age within a year because we got her when my youngest son was four. No idea how old the cat was prior to us taking her.
At present she's nuzzling up to me, wanting to be petted, and I accomodate and let her lie in my lap as I type. Twenty fucking years, I had no idea that prime pussy would last that long.
But she's deaf, nearly blind, shits blood, and seems to have no way to gain any weight from her skeletor look. She survived getting shaved at the groomers, and the result makes her look starved rather than free-fed.
So, yeah, a member of my family is going to get euthanized.
That leaves two dogs to go. (20 and 11 years old each)
And a wife, 60. (Somehow I don't think she'll be as easy to convince as the cat.)
Sorry for your loss. The cat apparently was fed Filet Migon w/ buttered asparagus. I suggest you keep the wife around.
W=washing
I=ironing
F=fucking or food
E=etc
That is sad. Damn.
It is the reason I hate having pets. Too much heartbreak.
(Then my cat is purring and lying down...on my foot. He is just one year old. Maybe he will outlast me this time around. I did not want him. But I ended up with him anyway and I'd miss him terribly as I have become attached.)
I understand Oldphart.
Look at what else the cat dragged in this morning.
Trichet to Fed: Ignore the IMF, World Bankhttp://www.cnbc.com/2015/09/15/trichet-to-fed-ignore-the-imf-world-bank....
Waiting with baited breath for Bank of International Settlements email to arrive. I'm 99% certain this will create a form of backlash.