Silver as an investment

Category Archives: Ch??, Tokyo

Bank Of Japan Leaves Policy Unchanged As Expected – Admits “Inflation Weakening”

As expected, The Bank of Japan left all of its various machinations of monetary policy unchanged with Kataoka the lone dissenter (preferring a more aggressive stance of yield curve control). The key line in the statement appears to be “inflation expectations have remained in a weakening phase,” which is the enabling narrative of lower and […]

Japan’s Exports Boom But Inflation Refuses To Follow The Script

Japanese exports boomed in November 2017, rising +16.2% versus a year earlier and beating consensus expectations of +14.7%. It was the fifth straight month of double-digit growth and the strongest since August. Last month, growth of +14.0% had undershot expectations of +15.7%. Imports in November grew slightly less than expected at +17.2% versus the consensus […]

Yen Tumbles On Trump, Kuroda Comments As Japan Comes Back From Long Weekend

Amid President Trump's visit, Abe's calls for more sanction and general militarization, the Japanese came back from their long weekend and decided it was time to panic-sell JPY in favor of the dollar the open. The yen slumped as much as 0.6% moments ago to an 8-month low against the dollar… … for two parallel […]

“It’s Not Good In The Long Run” Tokyo Exchange Chief Slams Kuroda’s “Constant Market Distortions”

When the chief of a country's biggest stock exchange is warning that the central bank is buying too many equities, then you know you have a problem. Japan Exchange Group Inc. Chief Executive Officer Akira Kiyota has become the latest member of Japan’s financial establishment to publicly criticize the BOJ for its longrunning ETF buying […]

Bank Of Japan Leaves Policy Unchanged As Expected – Admits Defeat On Deflation

Japan's long and sordid dance with unconventional monetary policy continues. With most analysts expecting a 'nothingburger' from Kuroda (though some hinting at the potential for shock-and-awe), The BOJ delivered… nothing – no change. However, most critically, the BOJ admitted defeat of deflation and delayed the timing of reaching their 2% inflation goal to around FY2019. […]

Bank Of Japan Leaves Policy, Economic Outlook Unchanged

As expected by all 43 economists who estimate such things, the Bank of Japan left their policy mix unchanged and in a desperate bid to appear modestly positive about how things are going, maintained that "Japan's economy has been turning toward a moderate expansion," adding that that consumer spending "increased its resilience." Hardly a rousing […]

Bank Of Japan Leaves Policy, Economic Outlook Unchanged

Confirming the expectations of all 41 economists, The Bank of Japan changed absolutely nothing about its monetary policy tonight following The Fed's 3rd rate hike in 11 years. The BOJ said in a statement that it would keep the two key rates at current levels, maintain the pace of its asset purchases, and did not […]

Japanese Bond Yields Surge, Yen Spikes As Kuroda Disappoints Market: “The Market Will Test The BOJ”

One week ago, yields on the Japanese 10Y JGB tumbled when the BOJ relented, and succumbed to market demands to expand its debt monetization, when it increased the size of its daily bond purchase operation, or POMO in NY Fed parlance, in the 5-10 year zone from JPY410BN to JPY450BN, which sent yields tumbling as […]

Global Shares Trade Mixed In Thin Holiday Trade; Yen Rises As China Rebounds

With most global market closed for Christmas holiday, and traders taking the day and the week off, global stocks traded mixed in thin, subdued conditions as the dollar dipped against the yen, with the USDJPY sliding for a fourth straight day to 117, while the EUR was flat at 1.0450, taking stock of the US […]