UPDATE: A little early to call yet but Fed's Rosengren quoted in FT "QE will end in October unless something dramatic happens" has knocked USDJPY and S&P lower...
[5]
More incoherent chatter from Japan about raising Japan's GPIF allocation to "more than 20%, or around 25%" on the basis of Prime Minister Shinzo Abe's 'expert views' have sent USDJPY higher out of the gate and thus S&P 500 futures are tracking - just as they did Friday afternoon - higher. Treasury futures prices are 6 ticks lower (+2.5bps yield) - retraced all the bond-short capitulation gains from Wednesday. S&P futures are 9pts higher - retracing 50% of last week's losses.
This...
- *ABE'S VIEWS TO BE FACTOR IN GPIF ASSET REVIEW TIMING: SHIOZAKI
- *JAPAN GPIF MAY RAISE STOCK ALLOCATION TO MORE THAN 20%: NIKKEI
- *JAPAN GPIF TO BOOST STOCK ALLOCATION TO ABOUT 25%: NIKKEI
Did this...
[6]
Which means this...
[7]
Dead cat bounce (as the majors track back down to Russell 2000 weakness on Friday)... or new new highs?
Charts: Bloomberg
