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…

This Japanese Firm Is Paying Employees In Bitcoin

As Japan becomes more accepting as cryptocurrencies as a means of exchange, a Japanese company is offering its employees the option to receive some of their pay in crypto. The company, GMO Internet Group, said it introduced the option last month, and it will gradually…

Trump Offers No Tariff Exemptions In Conversations With World Leaders: Ross

US allies and trade partners – especially Canada, Japan and the EU – who were hoping that they would be exempt from Trump’s steel and aluminum import tariffs may be set for disappointment. Speaking on ABC’s “This Week” on Sunday, Commerce Secretary Wilbur Ross said…