BOJ Unexpectedly “Stealth Tapers”, Sparking Japanese Bond Selloff

The global bond rout accelerated overnight, when Japan surprised the market – which had been already on edge over the BOJ’s tightening intentions – with an announcement to further “stealth taper” its QE by trimming its buying of bonds due in more than 25 years…

Naomi Osaka US Open Victory Overshadowed By Serena Williams Bad Behavior (REACTION)

Naomi Osaka, 20 years old, just became the first player from Japan to win a Grand Slam. Yet rather than cheer Osaka, the crowd, the commentators and US Open officials all expressed shock and grief that Serena Williams lost. At the awards ceremony, Osaka covered…

US Manufacturing PMI Slumps To Weakest In 2018 As Prices Surge, Orders Tumble

After China’s Manufacturing PMI tumbled to 8mo lows overnight (joining Japan in its demise to 13mo lows), US Manufacturing PMI for July has not been weaker since Dec 2017. Markit’s Manufacturing PMI signals stagflation with output prices at their highest since June 2011, production slide,…

US Treasuries, JGBs Rally As Bank Of Japan Shifts To “More Flexible” Bond-Buying Plan

After a few years of relative apathy, today’s Bank of Japan statement is greeted with considerable anticipation as it may well have some significant impacts on global markets, judging by the last two weeks’ action after hints at BoJ policy shifts. Background: Japan’s economy is…

Radioactive Cesium-137 From Fukushima Found In California Wine

Following the 2011 disaster at the Fukushima nuclear power plant in Japan – which left Japanese residents contending with toxic water and radioactive wild boars, World Health Organization (WHO) officials said that particles of radioactive fallout which made its way to the Western United States and…

A university is revoking a student’s PhD — but not because of misconduct

Earlier this month, Tokushima University in Japan announced it was revoking a student’s PhD degree — but for a somewhat unusual reason. The student didn’t appear to commit misconduct. Rather, the authors discovered a series of errors that invalidated the paper’s central conclusion. The case…

Japanese Stocks Jump, Yen & Bonds Dump As BoJ Tapers Its Bond-Buying Program

As if the market needed something else to spur volatility, The Bank of Japan chose tonight to cut the size of its purchases of 5-to-10 year JGBs (from 450bn to 430bn yen). While yen initially strengthened, it is now tumbling and Japanese stocks absurdly rallying,…

North Korea: Meeting Should Take Up Abysmal Rights Climate

Expand South Korea’s President Moon Jae-in, in Tokyo, Japan, May 2018.  © 2018 REUTERS/Kim Kyung-Hoon/Pool (New York) – The South Korean government should press the United States to discuss the appalling human rights situation in North Korea when US President Donald Trump meets with North…