Japanese bonds on steroids

Jawboning by NY Fed chief Dudley talking down the dollar sent US equities soaring on Wednesday.

This blatant intervention will more than likely be short-lived as European bank stocks fall over earning misses and hazardous  exposure to cratering derivatives.

Deutsche Bank stock price is trading at 2008 crisis levels as the German bank admits to huge losses in its paper trades.

Credit Suisse reported a huge loss on its trading desks as well.

From the sublime to the ridiculous, disgraced ex-baseball player Jose Canseco was speaking on Japanese monetary policy.

Canseco, tied to steroid use during his career, called Japan’s move to negative interest rates to increase inflation ill-advised on Twitter.

Canseco called negative yield notes “Willie Wonka” bonds, suggesting there are no winners, just losers.

I have to admit I agree with the sentiment, but surprised from where it comes from.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.