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Japan Bond Market Halted For Second Day In A Row
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zzerohedge.com / By Tyler Durden / April 8, 2013, 00:21 -0400
Following Friday’s epic collapse, snap-back, and circuit-breaker halt in JGB Futures, it appears that investors cannot get enough of Japanese bonds today. From the JPY144.02 close, JGB Futures traded up at the open, oscillated and then gapped higher (on heavy volume) to JPY145.25 before the TSE halted trading once again (on a volatility-based circuit-breaker limit) due to ‘rapid price fluctuations. The quadrillion JPY cash JGB market appears very illiquid as we scan the benchmark issues with the 30Y yield higher by 4bps, the 20Y lower by 14bps, and the 10Y lower by 3bps as it appears the futures are the weapon of choice. Since the halt ended, JGB Futures have slipped back notably. It seems pretty evident when and where the BoJ monetization took place but desk chatter was that it was poorly run.
Thanks to BrotherJohnF
2013-04-08 06:03:04
Source: http://silveristhenew.com/2013/04/08/japan-bond-market-halted-for-second-day-in-a-row-2/
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