UPDATE 2: Nikkei 225 touches 13,000 - down 750 from Abe highs (12,815 is 20% correction from highs)
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UPDATE 1: Well that escalated quickly... Abe Speech ended- NKY -450 from Abe spike highs, TOPIX -3% from Abe spike highs, JPY cracked back under 100 (80 pips from Abe spike), JGBs surging
For about 2 minutes there it looked as if we were back on track and by the power of jawbone alone, Abe could lift Japan from its malaise.
- *ABE VOWS TO SLAY DEFLATION MONSTER WITH FISCAL, MONETARY POLICY
- *ABE CALLS GROWTH STRATEGY CENTERPIECE OF ECONOMIC POLICY
- *ABE WILL THOROUGHLY REMOVE ALL BARRIERS TO CORPORATE ACTIVITY
But a mere 10 minutes after vowing to slay the deflation monster, Japanese stocks have retraced their spike gains and JPY has retraced its spike lower - but on the bright side - JGBs are bid.
Can you spot the moment Abe started speaking?
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and Nikkei not doing so well now - having retraced the entire jump...
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Abe has finished speaking - time to survey the damage:
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Which brings to mind this very brief clip:
Charts: Bloomberg