TyB
BOJ to tweak policy again to allow 10-year yields to exceed 1%
The Bank of Japan is set to consider a further adjustment to its yield curve control (YCC) framework at Tuesday's monetary policy meeting, potentially allowing 10-year Japanese government bond yields to rise above 1%, sources close to the matter told Nikkei, The long-term interest rate is currently capped at 1%, with the central bank conducting unlimited fixed-rate buying operations to keep yields below that mark. This ceiling was introduced in July to replace the previous cap of 0.5%.(they can continue this until muhYen sez “enough” and the $/yen carry trade starts to unwind in a big way)
The second framework tweak in three months appears to have been deemed necessary as 10-year yields are approaching 1% amid a backdrop of rising U.S. rates.
The BOJ is also likely to more flexibly conduct its JGB purchase operations, the sources said. This, along with a more flexible cap on 10-year yields, is aimed at deterring speculators from targeting the upper limit and sparing the BOJ the need to buy droves of JGBs to keep rates under 1%.
Long-term rates have risen faster than the central bank had expected in July. On Monday, the newly issued 10-year government bond yield reached 0.89%, its highest since July 2013. It is approaching 1% – what BOJ Gov. Kazuo Ueda has called "the upper limit."
This comes against the backdrop of rising U.S. long-term interest. These trends, Powell said, "could warrant further tightening of monetary policy." Another trend could also affect the BOJ's decision. The government is wary about the yen's depreciation because it is exacerbating inflation. The yen recently weakened past 150 to the dollar for the first time in a year due to the widening U.S.-Japan interest rate gap.
If the BOJ manages to suppress the rise in long-term rates,(they won’t and the Fin MSM sez “it’s complicated”…..it’s not)more money will flow to the strong dollar, which could risk further yen depreciation. However, were the BOJ to adjust its YCC framework and allow interest rates to rise to a certain degree, it could halt the yen's fall.
https://asia.nikkei.com/Economy/Bank-of-Japan/BOJ-to-tweak-policy-again-to-allow-10-year-yields-to-exceed-1
(Yeah no sorry it doesn’t work like that as each time the BoJ “intervenes”-as the 10y JGB rate goes higher they sell long term US Debt to do it-which creates an artificial demand for USDs in order to convert to muh Yen-which has increased in value as in Friday…..lather,rinse,repeat and then the other holders do same thing and it devalues what they still hold so they can’t just dump it in open market….who gonna buy that?)
There are risks to making an adjustment only three months after the last tweak. Long-term rates could rise much more than the BOJ can tolerate, forcing the central bank to buy huge amounts of government bonds to restrict harm on the economy.(too late as you niggas are STUCK with this so because they won’t officially raise rates they continue to raise limit that they buy them at)
https://tradingeconomics.com/japan/currency
https://tradingeconomics.com/japan/government-bond-yield
Dhat why I say for here…high 40s low but no comparison to mid west and you never get below what most get for HOD.
Dunno how they do that but they do..get “used to it” I suppose but given choice no thanks
SPAR24 inbound from Madrid depart
Special Priority Air Resource
Left Naples yesterday and arrived from Rome on 1028
You forgot “biblical” and “hold the line”
SAM163 and 280 G5s west from JBA
I can produce a ‘report’ that sez ima billionaire as well
Where is the black and white pics like munchkins and cocaine Mitch’s visit?
Libyan AF 5ALBY Embraer 135 departed Ankara SW
Potential Boom in Nigeria's Gas Export as Turkey, Libya, Others Demand More https://www.legit.ng/business-economy/energy/1560943-potential-boom-nigerias-gas-export-turkey-libya-demand-supply/
When the munee stops flowing
Easy peasy
Expensive keeping quiet while legitimately getting ass handed to them each day
Another handout to RE Devs
Something like $45b in total
White House opens $45 billion in federal funds to developers to covert offices to homes
https://www.msn.com/en-us/money/realestate/white-house-opens-45-billion-in-federal-funds-to-developers-to-covert-offices-to-homes/ar-AA1iWlqz
'Sell Mortimer, Sell' - Orange Juice Prices Hit Another Record High, Up 10%
Orange juice futures hit a record high of $4.1195 per pound, up 10% on Monday morning. The frozen orange juice concentrate has soared 388% since March 2020 as weather and disease crush citrus supply in Florida, the biggest producer of oranges in the US. David Branch of Wells Fargo recently told Yahoo Finance that Florida's orange crop is expected to come in around 713,000 tons, the smallest since the 1936-37 season. The US Department of Agriculture forecasts a 33% decline in citrus production for the 2022-23 season compared to last year's crop. Given where current [frozen concentrate orange juice] futures are trading coupled with lower domestic supply from Florida, I don't see prices coming down anytime soon," Branch added.
Also, hurricanes that slammed Florida in the last few years have wrecked citrus grove production in the Sunshine State. Brazil and Mexico have ramped up citrus exports to the US in recent quarters, but new estimates show yields have been lowered due to bad weather.
For consumers who are watching OJ prices at the supermarket soar higher and higher, it could take several years for supply woes to be alleviated, according to Luis Ribera, an economist at Texas A&M AgriLife Extension Service, who spoke with Yahoo Finance.
"If you're already part of a big player, you're going to invest more into your orchards," Ribera said, adding, "You would expect that in the next couple of years, things are going to get a lot better."
We suspect hyperinflating OJ prices will result in consumer behavior to shun this breakfast staple, which could ultimately drive prices lower.
https://www.zerohedge.com/commodities/hyperinflation-orange-juice-prices-hit-another-record-high-10
Obviously not you
Ask a question get an answer
Don’t like the answer….don’t ask the question
>yer bitching still not werking in meta apparently