3 days and 1400 NKY points roundtrip and all is once again well in the world according to Abe. The Nikkei 225 has just recovered all its losses from the dismal GDP downside 'surprise' thanks to a never-ending levitation in USDJPY back over 117.00. For now, the momentumn has stalled for stocks... but we are sure another regurgitated headline-full of Japanese policy-maker bullshit will send USDJPY to 120 and NKY back to 40,000 any day now - thus proving to all that Japan is indeed 'recovered'.
USDJPY surges... NKY catches up somewhat... but has stalled for now...
[4]
JGBs remain lower in yield but yesterday's ugly auction did not help confidence that the BoJ can keep a lid on this monkey-business...
[5]
Charts: Bloomberg
