• Sprott Money
    05/26/2016 - 05:58
    How many “emergency” “secret” meetings do the central planners around the world need to have before the citizens of the respective countries begin to fully understand and take notice that something...

Japan In Turmoil: Stocks, USDJPY, Bond Yields Collapse

Tyler Durden's picture




 

The total and utter failure of The BoJ continues to accelerate...

  • *JAPAN 10-YEAR GOVERNMENT BOND YIELD FALLS BELOW ZERO FIRST TIME

 

Stocks have crashed the most since Black Monday erasing all QQE2 gains..

 

With Japanese Bank stocks  leading the way, now down 25% since NIRP was unleashed (and 32% since the start of the year)...

  • *NOMURA EXTENDS DECLINE, FALLS AS MUCH AS 12%

 

And USDJPY is in freefall...

*  *  *

As we detailed earlier..

Following earlier comments from yet another Japanese talking head that deflation will be fixed any day now, the Japanese bond curve continues to collapse with yields hitting record lows across the entire spectrum. Most notably, 10Y JGBs - which were trading 24bps before BoJ NIRP - just traded with a 0bp handle for the first time ever, ready to join Switzerland as the only nations with negative  rates at 10Y. As bonds rally, and JPY surges to strongest since 2014, so Japanese stocks are crashing (NKY down 1000 points from intraday highs).

Bond yields are plunging...

  • *JAPAN 10-YEAR GOVERNMENT BOND YIELD FALLS TO ZERO FOR 1ST TIME
  • *JAPAN'S 5-YEAR YIELD FALLS TO RECORD -0.205%

And stocks are crashing as USDJPY tumbles...

  • *YEN CLIMBS PAST 115 PER DOLLAR TO STRONGEST SINCE 2014

 

Jose Canseco will not be happy.

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Mon, 02/08/2016 - 21:25 | 7158811 buzzsaw99
buzzsaw99's picture

that's some funny shit right there

Mon, 02/08/2016 - 21:31 | 7158841 Nikki Alexis
Nikki Alexis's picture

Time to refi

Mon, 02/08/2016 - 21:33 | 7158848 knukles
knukles's picture

Gives "10 yr Zero" a whole new meaning. 
(It's a bond joke, guys)

Mon, 02/08/2016 - 21:41 | 7158885 Soul Glow
Soul Glow's picture

Hey I'd like to pay you interest to own your bonds!  Best investment ever!

Mon, 02/08/2016 - 22:04 | 7159016 thesonandheir
thesonandheir's picture

Think of poor Kurodas cat and the kicking it's getting.

Mon, 02/08/2016 - 22:40 | 7159175 Soul Glow
Soul Glow's picture

Moar broken wondows, dead cats, and smashed TVs!

https://www.youtube.com/watch?v=kQbCaSv_3wM

Tue, 02/09/2016 - 00:09 | 7159505 Four chan
Four chan's picture

just print more yen.

Tue, 02/09/2016 - 00:35 | 7159580 38BWD22
38BWD22's picture

 

 

Nikkei -903  ...

Tue, 02/09/2016 - 01:24 | 7159689 Pool Shark
Pool Shark's picture

 

 

-953 ...

 

Tue, 02/09/2016 - 01:39 | 7159727 CapnJackDaniel
CapnJackDaniel's picture

Boundless opportunities! Risks often!

Tue, 02/09/2016 - 02:18 | 7159795 tc06rtw
tc06rtw's picture

   
 Jose Canseco…
Is HE with the BoJ ?

Tue, 02/09/2016 - 03:07 | 7159846 Stainless Steel Rat
Stainless Steel Rat's picture

Bond joke: "Welcome to hell Blofeld."

https://youtu.be/ztXmwXBlF-E?t=4m

Tue, 02/09/2016 - 03:30 | 7159867 Squid-puppets a...
Squid-puppets a-go-go's picture

i am really curious to know if anyone aside from the JCB ACTUALLY bought any 10yr bonds at a negative. Imagine putting ur capital somewhere where you are guaranteed to lose money for 10 years. Imagine levering up to do same!

'Like a Chump...Like a chump...like a- like a-

I did it all for the QE... for the QE... so stick it up your (yea)

Tue, 02/09/2016 - 07:22 | 7160057 DownWithYogaPants
DownWithYogaPants's picture

The good news would be if people REALLY did start using cash is safes.  Something they could not control as much.

Tue, 02/09/2016 - 03:09 | 7159851 Mr. Universe
Mr. Universe's picture

“People think they understand things because they become familiar with them. This is only superficial knowledge. It is the knowledge of the astronomer who knows the names of the stars, the botanist who knows the classification of the leaves and flowers, the artist who knows the aesthetics of green and red. This is not to know nature itself- the earth and sky, green and red. Astronomer, botanist, and artist have done no more than grasp impressions and interpret them, each within the vault of his own mind. The more involved they become with the activity of the intellect, the more they set themselves apart and the more difficult it becomes to live naturally.”
? Masanobu Fukuoka, The One-Straw Revolution

Tue, 02/09/2016 - 03:53 | 7159889 BTFDemocracy
BTFDemocracy's picture

What is the solution then?

Tue, 02/09/2016 - 04:59 | 7159946 old naughty
old naughty's picture

Mr. Universe,

 

"People who think they know everything are a great annoyance to those of us (at ZH) who do." 

 ~ Issac Asimov, one who knows the universe too well.

Tue, 02/09/2016 - 06:06 | 7159995 new game
new game's picture

wow, hold it off, i was just tryin to be informative, ha...

Tue, 02/09/2016 - 06:10 | 7159997 loosh
loosh's picture

Familarity breeds contempt? Absolutes are tricky....know enough to know that you really know nothing.

Tue, 02/09/2016 - 05:06 | 7159951 dogfish
dogfish's picture

The fed must be selling silver and gold shares this morning prices falling.

Tue, 02/09/2016 - 01:14 | 7159667 ebworthen
ebworthen's picture

"Tora!  Tora!  Tora!"

Tue, 02/09/2016 - 01:29 | 7159696 Pool Shark
Pool Shark's picture

 

 

"Climb Mount Niitaka."

 

Tue, 02/09/2016 - 03:33 | 7159872 MSimon
MSimon's picture

East wind, rain.

Tue, 02/09/2016 - 01:04 | 7159644 JLM
JLM's picture

I understand stock traders do that to their monitors as well when they get fleeced by the insider's.  Wonder how much money he lost.

Mon, 02/08/2016 - 23:08 | 7159310 Janet Shalom Be...
Janet Shalom Bernanke's picture

If his cat is anything like his pet stock market, the ass that is getting kicked is Kuroda's, not the cat's.

 

Scratch that bitche's slanty eyes out kitty.

 

Kuroda's policies fuck the good people of Japan, and for that, fuck you Kuroda.  May you hang high from the tallest tree.

 

 

 

Tue, 02/09/2016 - 00:15 | 7159514 philipat
philipat's picture

Are the Algos sleeping? USD/JPY down = US Futures down and Gold up, which doesn't seem to be happening??

Perhaps more evidence that the wheels are coming off when even their own "Rules" don't work any longer? Perhaps this really is the End Game...

Tue, 02/09/2016 - 00:20 | 7159540 38BWD22
38BWD22's picture

 

 

Japan craters.

So did the Baltic Dry Index: now at at even lower-er record than ever: 293

Tue, 02/09/2016 - 00:24 | 7159548 FX223
FX223's picture

All trades in all markets must be held for min 72 hours...there FEDs I fixed it for you.

 

Go fuck yourselves moneychangers 

Tue, 02/09/2016 - 00:33 | 7159572 38BWD22
38BWD22's picture

 

 

Even better, let's fix it ourselves: Don't trade!

G.O.T.S. (Get out of the System)!

Tue, 02/09/2016 - 03:33 | 7159871 Squid-puppets a...
Squid-puppets a-go-go's picture

agreed. But imagine if you run a business that relies on commodities. You have to put up with the malarky, regardless that it has no basis in supply, demand or even reality

Tue, 02/09/2016 - 04:45 | 7159932 philipat
philipat's picture

"All trades in all markets must be held for min 72 hours...there FEDs I fixed it for you."

All QUOTES in all markets must be valid for at least one second?


Tue, 02/09/2016 - 00:36 | 7159581 BlindMonkey
BlindMonkey's picture

At these crazy Eddie shipping rates global traffic has to be picking up.   Any day now.   

Tue, 02/09/2016 - 00:38 | 7159585 38BWD22
38BWD22's picture

 

 

Not necessarily!  Our sales in Peru are down over 50% this year (Jan 2016 vs. last Jan).

Tue, 02/09/2016 - 01:25 | 7159691 Richard Head
Richard Head's picture

Bearings?

Tue, 02/09/2016 - 01:54 | 7159758 38BWD22
38BWD22's picture

 

 

+ 38BWD22

+ 111001

+ 6007-RS

 

(yes)

Tue, 02/09/2016 - 01:18 | 7159677 popeye
popeye's picture

A company I work with got a quote for shipping of an FCL last week - 40% down on 6 months ago.

Tue, 02/09/2016 - 01:56 | 7159764 38BWD22
38BWD22's picture

 

 

We ship almost always LTL, I don't know our rates (Peru handles that), it IS down, but I don't know if down 40%.

Internal costs in Peru (docs & handling) are NOT down, nor marine insurance.

Mon, 02/08/2016 - 23:12 | 7159328 Disc Jockey
Disc Jockey's picture

"Do you expect me to talk?"

"No Mr. Bond....I expect you to die!"

Tue, 02/09/2016 - 01:38 | 7159725 EmmittFitzhume
EmmittFitzhume's picture

Domo arigato Mr. Roboto

Tue, 02/09/2016 - 04:43 | 7159927 old naughty
old naughty's picture

You are thanking him, really?

Tue, 02/09/2016 - 03:05 | 7159844 Disc Jockey
Disc Jockey's picture

"This is gold, Mr. Bond! All my life I've admired its color, its brilliance, its divine heaviness! I welcome any enterprise that will increase my stock... which is considerable."

https://www.youtube.com/watch?v=Mx9z99YJ_7s

Tue, 02/09/2016 - 04:11 | 7159904 Yukon Cornholius
Yukon Cornholius's picture

Or as Hank Scorpio would say, "no, I expect you to die and be a very cheap funeral!"

Mon, 02/08/2016 - 23:29 | 7159395 Insurrexion
Insurrexion's picture

 

 

You mean "Odd Job"? right.

Tue, 02/09/2016 - 00:34 | 7159577 AnAverageBear
AnAverageBear's picture

Gives "accrual" a whole new meaning, too.

Tue, 02/09/2016 - 00:56 | 7159619 sun tzu
sun tzu's picture

Can I refi in Yen and get paid a monthly nut?

Tue, 02/09/2016 - 01:44 | 7159741 Janet Shalom Be...
Janet Shalom Bernanke's picture

I cut Wates to Zewwo, then I made them Wess than Zewwo, Why is my Howse of Kaads Fawwing?

Elmer Fudd has nothing on Kuroda

 

 

 

Mon, 02/08/2016 - 22:29 | 7159124 ClassicCommodity
ClassicCommodity's picture

Sigh, when does it CRASH though...

Mon, 02/08/2016 - 22:46 | 7159212 NoDebt
NoDebt's picture

"You're soaking in it right now."

- Madge from the old Palmolive commercial

Tue, 02/09/2016 - 00:15 | 7159522 seek
seek's picture

I really think we're finally on course to the main event rather than the sideshows. If AU moves more than $100 in a day, or is up more than $200 by the end of the quarter, I'll be convinced TPTB have either lost control or have agreed to starti a controlled implosion.

Tue, 02/09/2016 - 01:44 | 7159679 HardlyZero
HardlyZero's picture

Godzilla.

BOC

https://www.youtube.com/watch?v=T65rW_SIzg0

"History shows again and again..."

 

Nikkei -5.71%   !!

CNBC: "Investors lose their nerve"

 

and then Lunar New Year ?!   will Asian markets open limit down ?

 

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