Japan In Turmoil: Stocks, USDJPY, Bond Yields Collapse

Tyler Durden's picture

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



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)...



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...


And stocks are crashing as USDJPY tumbles...



Jose Canseco will not be happy.

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buzzsaw99's picture

that's some funny shit right there

knukles's picture

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

Soul Glow's picture

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

thesonandheir's picture

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

38BWD22's picture



Nikkei -903  ...

CapnJackDaniel's picture

Boundless opportunities! Risks often!

tc06rtw's picture

 Jose Canseco…
Is HE with the BoJ ?

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)

DownWithYogaPants's picture

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

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

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.

new game's picture

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

loosh's picture

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

dogfish's picture

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

ebworthen's picture

"Tora!  Tora!  Tora!"

Pool Shark's picture



"Climb Mount Niitaka."


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.

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.




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...

38BWD22's picture



Japan craters.

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

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 

38BWD22's picture



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

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

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

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?

BlindMonkey's picture

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

38BWD22's picture



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

38BWD22's picture



+ 38BWD22

+ 111001

+ 6007-RS



popeye's picture

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

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.

Disc Jockey's picture

"Do you expect me to talk?"

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

old naughty's picture

You are thanking him, really?

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."


Yukon Cornholius's picture

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

Insurrexion's picture



You mean "Odd Job"? right.

AnAverageBear's picture

Gives "accrual" a whole new meaning, too.

sun tzu's picture

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

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




ClassicCommodity's picture

Sigh, when does it CRASH though...

NoDebt's picture

"You're soaking in it right now."

- Madge from the old Palmolive commercial

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.

HardlyZero's picture




"History shows again and again..."


Nikkei -5.71%   !!

CNBC: "Investors lose their nerve"


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