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Japan’s Largest Bank Is Preparing For A Bitcoin Exchange Collapse

The February 2014 collapse of Tokyo-based bitcoin exchange Mt. Gox was, for more than 24,000 investors around the world, a traumatic event. It also ushered in a two-year crypto bear market that saw the price of a single bitcoin plunge from a peak of $1,200 to a low of around $200 before the torrid bull […]

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 […]

Bank of Japan Decision Preview: Here’s What Wall Street Expects

Submitted by RanSquawk The Bank of Japan (BoJ) will conclude its final policy meeting of 2017 at some point on Thursday. The BoJ is expected to leave its monetary policy settings unchanged as it has done for the entirety of 2017, which would see the Bank maintain its QQE with Yield Curve Control (YCC) 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 […]

After $150 Billion Buying Binge, ‘Tokyo Whale’ Seen Paring Back ETF Purchases In 2018

A few months ago, we noted that the Bank of Japan had decided to throw every textbook out of the window and crank their plunge-protection to ’11’after reports surfaced that they owned a staggering 75% of Japan’s ETFs. The BOJ first started their buying spree in December 2010 – when they held no ETFs at […]

WeWork: London’s Soon-To-Be Biggest Property Renter Makes Massive Bet On Office Market Despite Brexit

The rationale for creating WeWork, the eco-friendly serviced workspace provider, was simple as co-founder Adam Neumann explained to the New York Daily News. “During the economic crises, there were these empty buildings and these people freelancing or starting companies. I knew there was a way to match the two. What separates us, though, is community.” […]

Buying Yen… A Truly Contrarian Call

Authord by Kevin Muir via The Macro Tourist, I am aware of all the doomsday Yen hyper-inflationary predictions due to their soaring debt-to-GDP ratio. And these Japanese bears very well might prove correct… In the long run. But as Mr. Keynes taught us, the long-run is an awfully long time. In the meantime, I think […]

Japan, Inc. Rocked Again: Toray Admits To Falsifying Data After Internet Post Exposes Fraud

Corporate Japan’s credibility, already teetering after a barrage of corporate fraud and falsification scandals in recent months, hit another low after Toray Industries, one of Japan’s biggest materials manufacturers, joined a list of companies admitting to falsifying data. On Tuesdaty, Toray announced it had uncovered 149 cases of data fabrication at its subsidiary, Toray Hybrid […]

More Evidence BoJ Desperate To Steepen Yield Curve

Two days ago, we highlighted how Bank of Japan officials have been briefing Reuters about reducing its monetary stimulus earlier than markets had been expecting – around 1Q 2018 rather than later in the year. In particular, the yield curve control (YCC) is likely to be eased from the current target of zero percent for […]

Another One: Japan’s “Fake Data” Scandal Hits Mitsubishi Materials

So Kobe Steel was not an isolated incident and faking data on manufacturing quality in Japan is quite common, as other lower profile scandals at Nissan Motor and Takata proved. Today another culprit has come to light: Mitsubishi Materials – which may need to re-consider its corporate philosophy “For People, Society and the Earth” and […]

BoJ Briefs Reuters: We’ll Let 10-Year Yield Rise Above Zero Percent Target Around 1Q 2018

It looks like BoJ Governor, Haruhiko Kuroda’s, minions are getting out and about to brief the financial news services that the biggest stimulator of all the central banks might reduce stimulus earlier than expected. The recipient of the unofficial briefings by BoJ officials is Reuters, which has this to say. The Bank of Japan is […]

One Trader Warns “To Ignore All Around You Is Playing With Fire”

Something changed in the last week or so. Several markets that had hitherto been unstoppable examples of central bank recklessness dominating rational thinking suddenly 'stopped'. Of course this is seen by many asset-gatherers and commission-takers as 'a pause that refreshes' but what if it's not? As former fund manager Richard Breslow warns, "you'd better believe […]

Japan Rocked By Violent Stock Plunge As Nikkei Tumbles 850 Points Before Recovering Losses

Something snapped in Japan today. With Asian stocks finally breaking out a decade-long doldrum, and hitting record highs earlier in the session, and with Japanese equities starting off the session on the right foot and continuing their recent ascent which until Wednesday had seen them rise on 23 of the past 25 days, Japanese shares […]

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 […]

The Widow-Maker’s Back – Is It Time To Short JGBs?

Authored by Kevin Muir via The Macro Tourist blog, Remember the original widow maker macro trade? More than a decade before short China positions filled hedge fund portfolios. Way before the long VIX trade. And before Australian and Canadian real estate was even worthy of consideration by global macro traders, there was the JGB short. […]