It is the 3rd of April 2020


Santelli Thanks Plunge Protection Team As Bond Bloodbath Sparks Buying Frenzy In Stocks & Commodities

No volume, no problem...Buy stocks with both hands and feet...

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Abenomics Is Dead - Japanese Data Collapses Across The Board

With recent JPY strength not helping, last week ended on a down-note for Japan as its jobless rate ticked up from 3.1% to 3.3% (the biggest rise since January) and Household spending collapsed. However, as the last week of the year begins, things have not improved as a double whammy of awfulness just hit the shores of Abe's nation with retail sales (worst since the tsunami) and industrial production ugly and missing across the board. We are sure, of course, that just one more dose of faith-based QE will fix this.

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Has The Great Carry Unwind Arrived: Yen Surges After Warning USDJPY 100 Coming

For all the talk that the BOJ would unleash more stimulus, buy REITs, more ETFs (both existent or non-existent), or outright stocks, today the USDJPY did something it has not done in 7 weeks: the world's preferred carry trade currency just slumped to the lowest level since early November. If it wasn't for  the recent bounce in crude, and if the traditional USDJPY-ES correlation pair had not broken down as a result, the S&P would be well below 2000 at this moment.

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