Ty B
>>19762930 pb
Muh bond markets blowing up still our 10y up and over 5% but has come off that
marketFag: Futures Slide (muh cash open flat) As Oil And Gold Jump, Treasuries Find Tentative Buyers With Yields At 2007 Highs 10-year Treasury yield crosses 5%
Global stock dipped and US equity futures traded lower as crude oil extended the weekly advance for a 4th day, rising above $90 on concerns Israel and Hamas war could widen into a regional conflict and as the DOE announced plans to refill the largely drained SPR with another $6 million barrels (good luck doing that with the proposed purchase price of "$79 or below"). As of 8:00am, S&P and Nasdaq 100 futures were down 0.3%; Europe's Stoxx 600 was down 0.7% to a seven month low and on course for a fourth day of declines. Meanwhile, Treasuries rose, led by gains in 10-year debt which briefly topped 5% yesterday for the first time since 2007, after Fed chair Jerome Powell suggested the US central bank is likely to hold interest rates steady at its next meeting. Asian equities also fell, on course for their worst week since August; China Evergrande Group is revising the terms of its proposed restructuring plan and Country Garden’s default on dollar bond interest payment still looms. A burst of buying among cryptocurrencies sent bitcoin above $30K, the highest since August.
European equities extended their drop to a seven-month low and on course for a fourth day of declines. The Stoxx Europe 600 fell 0.7% to the lowest since March 20. Miners lagged, along with travel and leisure stocks. L’Oreal SA pared losses as traders weighed disappointing North Asia sales against better than expected performance in North America and Europe. Here are the biggest movers on Friday.
Earlier in the session, Asian equities fell, on course for their worst week since August, as investors fretted over escalation in the Middle East crisis in addition to Federal Reserve policy and China’s uneven recovery. The MSCI Asia Pacific Index fell as much as 0.9% before paring its decline, with Samsung, Tencent and BHP Group among the biggest drags.
A record injection of extra cash by China may offer support after the nation’s stocks erased all gains seen during their massive reopening rally that took off late last year. The economy has been challenged this year by a lack of demand and a downturn in the property market. Still, Morgan Stanley advises against buying the dip in Chinese equities as market sentiment is likely to stay fragile while foreign fund outflow could persist near-term. Meanwhile, concerns around property sector lingered on with Country Garden Holdings missing a dollar bond interest payment, effectively triggering the largest property sector default since Evergrande. (Country Garden is busy offshoring what cash they have left and may do exactly what Evergrande did…file in US so all the munee they flowed to family via Cayman Island accts is protected or a similar variation.
In rates, treasuries rose across the curve as yields at multi-year highs drew buyer interest and as rising tensions in the Middle East push investors towards perceived safe haven assets. The curve bull-flattened, unwinding a portion of Thursday’s aggressive steepening that pushed 2s10s spread to least inverted level in more than a year. 10-year Treasury yields are around 4.94% after re-opening in Asia session at 4.992%, new multiyear high; bunds and gilts underperform by 4.5bp and 6bp in the sector. The US 2s10s spread sits around -21bp after topping at -16.9bp Thursday, least inverted level since September 2022. US yields richer by 1bp to 5bp across the curve with long-end-led gains flattening 2s10s, 5s30s spreads by 4..2bp and 0.3bp on the day;
In commodities, spot gold added 0.5% to around $1,984. Oil prices also gain, with Brent futures rising 1.2% to trade near $93.50.
US Event Calendar
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04:00: Bloomberg Oct. United States Economic Survey
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Oct. 20-Oct. 23: Sept. Monthly Budget Statement, est. -$166b, prior -$429.8b
Fed speakers
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09:00: Fed’s Harker Speaks on Economic Outlook
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12:15: Fed’s Mester Speaks at Manhattan Institute for Policy Research
https://www.zerohedge.com/markets/futures-slide-oil-and-gold-jump-treasuries-find-tentative-buyers-yields-2007-highs
N
https://www.marketwatch.com/investing/bond/tmubmusd10y
https://www.cnbc.com/us-markets/
Japan's core inflation slows below 3% for first time in over a year
Sept core consumer prices up 2.8% yr/yr vs f'cast +2.7%Core-core index up 4.2% yr/yr in Sept - govtData among factors to come under scrutiny at BOJ's Oct meeting
TOKYO, Oct 20 (Reuters) - Japan's core inflation in September slowed below the 3% threshold for the first time in over a year but stayed above the central bank target, keeping alive expectations that policymakers will phase out ultra-easy monetary policy.
The data will be among indicators the Bank of Japan (BOJ) will scrutinise at its two-day policy meeting ending on Oct. 31, when it will produce fresh quarterly growth and price forecasts.
"While inflation weakened in September, we think inflation will only fall below the BoJ's 2% target by the end of next year," said Marcel Thieliant, head of Asia-Pacific at Capital Economics.
The nationwide core consumer price index (CPI), which excludes volatile fresh food costs, rose 2.8% in September from a year earlier - the first time it has slowed below 3% since August 2022, government data showed on Friday. It eased from 3.1% in August.
All the same, the rate has tracked above the BOJ's 2% target for 18 straight months.
The core-core index, which strips away fresh food and fuel costs, rose 4.2% in September from a year earlier, the data showed, slowing from a 4.3% gain in August.
Markets are rife with speculation the BOJ will soon end negative short-term interest rates and yield curve control, which sets a 0% cap for the 10-year bond yield, in response to broadening inflationary pressure. The BOJ has played down the near-term chance of phasing out its massive stimulus, arguing the recent cost-driven price rises need to change into demand-driven increases in inflation for the bank to consider hiking interest rates.
https://www.reuters.com/markets/asia/japans-core-inflation-slows-below-3-first-time-over-year-2023-10-20/
https://tradingeconomics.com/japan/government-bond-yield
NEVER raising rates and said that before the Fed started. They own about 70% of it’s own JGBs (by now) and prolly north of 80% of all equities in the Japanese Indicies. As recently as Oct 2 they vaporized muh yen (while they were selling US Treasuries along with China and EU countries) to the tune of around $60b in the latest of its (instead of raising rates) “Yield Control” policy they will never abandon. You wanna know why the yield curve is inverted? THIS is where it began as they are the top holder of our debt and surpassed China during 45s assault on Chinese trade policies.
Muh Yen still pegged at recent highs and creeping up all week and make NO mistake our current financial ends when the BoJ blows up…..that could take a while because (((they))) totally fuggen know this
https://finance.yahoo.com/quote/JPY%3DX
Mornin’
o7
New York Federal Reserve Currency Swap operation(s)-$251.5m Oct 18,2024
$243.5m to ECB, $8m to BoE and $3m to BoJ. This pretty standard. You’ll see some ones in the billions to Swiss National Bank soon if YE trends hold. See below
As you can see the below release of “ dindu nuffin” is complete bullshit. New York Fed has intervened using currency swap lines on a weekly basis for several years.
Attached is just what they have done with the EU Central Bank for the last few months. You can set the specific central bank in the link provided and select all of them. EU has been in $200m range all this year and around $100m each week last year. They save the big ones for the Swiss National Bank-effectively bailing out Credit Suisse via Franc/US Dollar swaps and facilitated the UBS “buyout”
That $20b q3/4 last year vaporized into black hole of UBS. Because any “sale” needs to stay in the same country…..Good Luck with Santander!
https://www.newyorkfed.org/markets/desk-operations/central-bank-liquidity-swap-operations
So ask yourself this question…..why did they feel the need to announce this below over 2 months ago?
Since this is completely debunked using its own information why release this obvious lie -no matter how they interpret intervention they still swap currency and lend securities on weekly basis for later and daily for former-on that day or do it at all ?
>(mktFag was not available from July until Oct for various reasons) don’t ask we all have issues
August 10th, 2023
The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Second Quarter
NEW YORK—The Federal Reserve and U.S. Treasury did not intervene in foreign exchange markets during the April – June 2023 quarter, the Federal Reserve Bank of New York said today in its quarterly report to the U.S. Congress.
The U.S. dollar, as measured by the Federal Reserve Board’s broad trade-weighted dollar index, appreciated 0.3 percent in the second quarter of 2023. On a trade-weighted basis, the dollar was little changed against advanced market currencies and appreciated 0.8 percent against emerging market currencies, as markets weighed central bank policy developments over the quarter.
In terms of currency-specific developments, the dollar appreciated 5.5 percent against the Chinese renminbi and 8.6 percent against the Japanese yen, reflecting more accommodative monetary policy conditions in these jurisdictions relative to the U.S., as well as weaker-than-expected economic activity in China. In contrast, the dollar depreciated 2.9 percent against the British pound and 0.6 percent against the euro amid expectations for further tightening by the respective central banks. Elsewhere, the dollar depreciated 5.5 percent against the Brazilian real and 5.1 percent against Mexican peso amid positive economic momentum, falling inflation, and high real rates in those two economies.
https://www.newyorkfed.org/newsevents/news/markets/2023/2023081
To compound the bullshit they “don’t “ provide $30-50b in securities lending Every…..Single…..Day
But they dint intervene on THAT day. Utter RUBBISH especially since it’s available on the same site they do this all the timr
https://www.newyorkfed.org/markets/desk-operations/securities-lending
For those that don’t know the NY Fed is the real arm of the central bank system. The Washington branch is just a storefront as all operations originate from here under “direction” of the Fed Chair Jerry “inflation is transitory and loaded up Bankers Trust in the early to mid 90s with a shitload of derivatives that was “sold” to Douche Bank in 99” Powell. He bailed to Carlyle in about 95 or so to get distance from that time bomb.
Lots muh fren oil for the soul
Dubs
planeFag IndoPac activity
Aussie AF XA1 Global Explorer Aussie FM Departed Tokyo Haneda Airport
JASDF JF441 767 departed Singapore and over PI
Japan and Australia agree to further step up defense cooperation under 2-month-old security pact
https://abcnews.go.com/International/wireStory/japan-australia-agree-step-defense-cooperation-2-month-104137063
Hungarian AF HUAF666Falcon 7xVictor Orbanreturning from southern China and Beijing after meeting w/ Putin and Xi
https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1izjWx.img?w=1920&h=1080&q=60&m=2&f=jpg
U.S. concerned about Orban's meeting with Putin
https://www.msn.com/en-us/news/world/us-concerned-about-orbans-meeting-with-putin/ar-AA1izoDn?cvid=30d09c57a5994706a7c3cc155fe04abf&ei=9#image=1
Gensler and Caroline’s father “can’t” be guilty so he SBF will.
SBF followed directions
>>19769939 PF Orban back from China on HUAF666
The staged event of the 20th century