Japan

Phoenix Capital Research's picture

The Fed COMPLETELY Missed the Boat on Deflation/Inflation





Let’s be blunt here. The Fed has engaged in the single largest monetary experiment in history, betting the US economy and banking system on misguided theories that have little to no evidence of success.

 
Tyler Durden's picture

Chinese Treasury Holdings Drop To Lowest Since February 2013 As "Belgium" Treasurys Post First Decline Since August





With everyone expecting "Belgian" US Treasury holdings to surge by another inexplicable double-digit billion amount, and surpass $400 billion in what has been the most aggressive, and secretive, accumulation of TSYs by an unknown third-party using the Belgian jurisdiction as venue via Euroclear, the April holdings of the small European country posted their first drop since August. According to the TIC data released moments ago, total "Belgium" holdings - the third largest after China and Japan - declined by $15 billion in April, to a new grand total of $366 billion.

 
Tyler Durden's picture

Key Events In The Coming Week





This week brings some key events and releases in DMs, including US FOMC (Goldman expects $10bn tapering, in line with consensus), IP, CPI, and Philly Fed (expect 13.5), EA final May CPI (expect 0.50%), and MP decisions in Norway and Switzerland (expect no change in either).

 
Tyler Durden's picture

Frontrunning: June 16





  • Iraq Army Tries to Roll Back Sunni Militants’ Advance (BBG)
  • Starbucks to Subsidize Workers' Online Degrees (WSJ)
  • ‘Bitcoin Jesus’ Calls Rich to Tax-Free Tropical Paradise (BBG)
  • Medtronic Is Biggest Firm Yet to Renounce U.S. Tax Status (BBG), Medtronic to buy Covidien for $42.9 billion, rebase in Ireland (Reuters)
  • Oil Topping $116 Seen Possible as Iraq Conflict Widens (BBG)
  • Putin Seeks Paris Landmark as Hollande’s Russia Ties Defy Obama (BBG)
  • GM Says It Has a Shield From Some Liability (WSJ)
  • BOJ’s Bond Paralysis Seen Spreading Across Markets (BBG)
 
Tyler Durden's picture

El Niño Is Coming: Here's What To Expect





Idiot central-planner and economist "justifications" for always being wrong aside, the reality is that El Nino is on its way even if the slowdown in the economy will be due to every other factor except the weather (start with the Fed) which just so happens is a "recurring" event. So upcoming GDP collapse (that nobody could have foreseen earlier, nobody, certainly not the Fed) notwithstanding, here is what one should really expect as a result of the unique weather formation which whose temperature and precipitation impacts across the United States occur during the cold half of the year, from October through March.

 
EconMatters's picture

Bond Kings to be Dethroned in Second Half of the Year





We believe Jeffrey Gundlach, et al. are wrong regarding the 10-Year Bond yield staying below 2.80% over the second half of the year.

 
Tyler Durden's picture

Good Riddance To Rep. Eric Cantor: Bagman For Wall Street And The War Party





It's possible to describe Rep.Eric Cantor as a serial sell-out. But that would be giving an unprincipled politician driven by an unalloyed ambition to climb the greasy pole of Washington power too much credit. In truth, Cantor never campaigned for any recognizable principle; he merely maneuvered his way to the top of the House GOP hierarchy by following in the tawdry footsteps of modern GOP bagmen like Tom DeLay and Roy Blunt. Eric Cantor made a career of milking the Warfare State and pandering to Wall Street. This brought him nearly to the top of the Washington heap. But in the end, it did not fool his constituents. And most certainly it set back the conservative cause immeasurably.

 
Tyler Durden's picture

In A Sea Of Money Printing, What Happened To All The Liquidity?





Volatility is depressed, micro dominates and as Goldman notes several of the key emerging themes of the last few years have lost their discovery value. There are many questions that investors should be asking as the second half of 2014 approaches (and the much hoped for 'recovery' picks up steam); but perhaps the most important one given the taper is "In a sea of liquidity, what happened to all the liquidity?" The supply of stock and volumes are down. Did you know Verizon’s current market cap is larger than Russia’s float?

 
tedbits's picture

American Empire on Fire! - Weekly Wrap - June 13, 2014





This week’s news certainly WASN’T BORING.  Big events and small add up to unfolding CHAOS around the WORLD. This week’s subjects: American Empire on FIRE!,  Out on a LIMB: Credit Unions facing INSOLVECY,  Is rising indebtedness a sign of economic strength?,  Bond YIELDS continue to collapse as the race for yield INTENSIFIES,  George Orwell in Action, Showdown looming at the OK corral!,  Simply UNBELIEVABLE SOVEREIGN credit market action, PHANTOM GDP, Rare INDEED, Must watch video interview with Charles Nenner,European BANKING SYSTEM INSOLVECY

 

 
Tyler Durden's picture

Friday The 13th Futures Tread Water On Rising Iraq Fear, Crude Surge Continues





Believe it or not, the main driver of risk overnight had nothing to do with Iraq, with the global economy or even with hopes for more liquidity, and everything to do with a largely meaningless component of Japan's future tax policy, namely whether or not Abe (who at this pace of soaring imported inflation and plunging wages won't have to worry much about 2015 as he won't be PM then) should cut the corporate tax rate in 2015. As Bloomberg reported, Abe, speaking to reporters in Tokyo today after a meeting with Finance Minister Taro Aso and Economy Minister Akira Amari, said the plan would bring the rate under 30 percent in a few years. He said alternative revenue will be secured for the move, which requires approval from the Diet.

 
Tyler Durden's picture

Frontrunning: June 12





  • Iraqi Drama Catches U.S. Off Guard (WSJ)
  • Al-Qaeda Offshoot on NATO Border Threatens Turkish Rally (BBG)
  • It's just the snow, people: U.S. Economic Recovery Looks Distant as Growth Lingers (NYT)
  • Freed Taliban leaders may remain in Qatar beyond one-year travel ban (Reuters)
  • BNP Paribas Executive Chodron de Courcel to Quit Post (WSJ)
  • Greenmail is back (WSJ)
  • Facebook Places Multiple Bets to Win Messenger Wars (BBG)
  • ECB easing to benefit Ukraine, Russia corporate bonds (Reuters)
  • Rome Shows the World How Not to Run Bike-Sharing Program (BBG)
 
Tyler Durden's picture

Oil Surges To Highest Since September As Algos Finally Find Iraq On The Map





With another day of little otherwise completely irrelevant macro news (because following last night's abysmal Australian jobs data one would think the AUD would be weaker; one would be wrong), market participants - all 3 of them - and algos (which have finally uncovered where Iraq is on google maps) are finally turning their attention to the latest conflict in Iraq (because they obviously no longer care about the martial law in Thailand or the civil war in Ukraine), where the Al Qaeda spin off ISIS overnight seized at least 310K B/D in refinery capacity in northern Iraq according to the Police, and what is more concerning, is now less than a 100 kilometers away from Baghdad. Will ISIS dare to venture further south? Keep an eye on crude for the answer.

 
Tyler Durden's picture

Introducing The Latest Tactic For Governments To Raise Cash





‘Creativity’ isn’t usually a word associated with ‘government’. Words like stodgy, bureaucratic, and incompetent are typically more appropriate. But there is at least one area where bankrupt governments in particular tend to be exceptionally creative - finding unique ways to steal people’s money... and among the most unique just hit the great state of Georgia.

 
Tyler Durden's picture

Images Of A Post-Abenomics Euphoria Hangover





With Japan's "Misery Index" at its highest in 33 years, it is not surprising that the population of salarymen have turned to the bottle (Johnnie Walker Black) once more. As is well known, Japanese culture dictates that businessmen should not offend their superiors by refusing a drink, but many find themselves imbibing far more than they can handle. The following ten images reflect the other side of Abenomics sentiment-crushing reality - salarymen in various states of intoxication sprawled on pavements, trains and street benches...

 
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