Tyb
Japan's economy skids, complicating BOJ's rate hike plans
(Here we have the latest excuse for something they were never going to do with any conviction as .1% raises is just playing-so say they do that 4 moar times to get to .5%-Big fuckin’ deal. They have bigger problems nao: a collapsing currency, spiking yields-compared to where they’ve been and the next time they buy yen they will likely sell our US Treasury Bonds which will spike rates. Last October is what caused our Treasuries to spike yields and lower their values. This news sent the Yen vs $ down which is strength and JGB yields down slightly-this matters BIGLY the correlation of yen and US Dollar because of muh yen carry trade)
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Q1 GDP -2.0% annualised vs forecast -1.5%
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Consumption -0.7% q/q vs -0.2% seen; capex -0.8% vs -0.7% seen
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External demand knocks 0.3 percentage points off growth
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Thrify consumers, geopolitical factors among risks to outlook
Japan's economy contracted in the first quarter, squeezed by weaker consumption and external demand and throwing a fresh challenge to policymakers as the central bank looks to lift interest rates away from near-zero levels.
Preliminary gross domestic product (GDP) data from the Cabinet Office on Thursday showed Japan's economy shrank 2.0% annualised in January-March from the prior quarter, faster than the 1.5% drop seen in a Reuters poll of economists. Downwardly revised data showed GDP barely grew in the fourth quarter. The reading translates into a quarterly contraction of 0.5%, versus a 0.4% decline expected by economists.Private consumption, which accounts for more than half of the Japanese economy, fell 0.7%, bigger than the forecast 0.2% drop.It was the fourth straight quarter of decline, the longest streak since 2009.
Capital spending, a key driver of private demand, fell 0.8% in the first quarter, versus an expected decline of 0.7%, despite hefty corporate earnings.(and those profits are from low rates and devaluing currency)Cap 2&3
External demand, or exports minus imports, knocked 0.3 of a percentage point off first quarter GDP estimates.
Policymakers are counting on rising wages and income tax cuts from June to help spur flagging consumption.
The drag to growth from an earthquake in the Noto area this year and the suspension of operations at Toyota's Daihatsu unit are also expected to fade.
Still, a sharp decline in the yen to levels unseen since 1990 has fueled concerns about higher living costs, squeezing consumption.
The Bank of Japan (BOJ) raised interest rates in March for the first time since 2007, in a landmark shift away from negative rates, but the central bank is expected to go slow in unwinding easy money conditions given a fragile economy.
https://www.reuters.com/markets/asia/japans-gdp-contracts-complicating-bojs-rate-hike-plans-2024-05-16/
https://tradingeconomics.com/japan/currency
https://tradingeconomics.com/japan/government-bond-yield
Z curtails travel at same time Putin goes to China.
That one sided Summit in Switzerland first week of June
>>20871713 lb
SAM573 C32A ==moneybags Blinken= stopped at Shannon ,Ireland for a refuel then on to JBA
>excited overAMC
They sure got burned two days in a row on that one and the smart ones sold early Tuesday.
Secondary and then stock for debt.
I had to laugh…see that coming in yesterday’s chart
Stale
Late night SAMs back to JBA
SAM803 G5 arriving at JBA from Scott AFB,IL
SAM786 G5 left Offutt AFB and back to JBA
>the report mechanism deliberately uses really hard captchas.
Get some glasses, they are not that hard, as you’ll need them for your new script that your crying group needs badly
Learn to read
Explained several times already
Try and keep up
Yer just going to keep asking the same “question” that (You) already know the answer to
They also EMP’d a cruise ship earlier that same day just south of that missile launch
All electrical equipment,including passengers phones zapped
Apparently there was a large sum of black money due to the Chinese underground and these two things were the warnings.
Carnival Splendor Fire: What Passengers Must Know about Cruise Ship Safety
https://www.cbsnews.com/news/carnival-splendor-fire-what-passengers-must-know-about-cruise-ship-safety/
Chinese Junk Bonds Jump to Three-Year High on Property Stimulus
(as our economy is based on consumption China’s is based largely on Real Estate and that ball haz to keep bouncing or it’s lights out..they can extend and pretend for a while but sooner or later the push to create sales in this sector will bite them just like it did here from 2000-2007 when that bubble popped)
China’s junk dollar bonds are rallying to their highest level in three years amid government efforts to shore up the bruised property sector. The average price of Chinese high-yield dollar bonds has jumped 2.1 cents so far this week and is set for the biggest weekly advance in seven months. Prices have risen to 85.5 cents, according to a Bloomberg index, the highest since September 2021, just before Fantasia Holdings Group Co.’s surprise default cast a spotlight on the extent of China’s property-debt problems. Top gainers this month included some of the survivors of the crisis, including China Vanke Co., Longfor Group Holdings and Seazen Group Ltd. Some of Vanke’s dollar bonds are poised for their largest daily gain Thursday since November last year. Its note due in 2027 jumped 6.3 cents on the dollar Thursday morning, while another one maturing in 2029 is up 6.7 cents.
Despite the rise in junk-bond prices among some property developers, a large portion of the market remains deeply distressed. Dollar notes of defaulted builders such as Country Garden Holdings and China Evergrande Group, which have been removed from the Bloomberg index, are still trading below 10 cents on the dollar. Government policy is moving in the right direction and we could see light at the end of tunnel next year, said Ting Meng, senior credit strategist at Australia & New Zealand Banking Group Ltd. “If these policies [had] come earlier, the effectiveness will be much better,” she said.
Stock prices in the sector also surged on Thursday. A Bloomberg gauge of Chinese developers showed shares rising as much as 10%, led by defaulted developer Sino-Ocean Group Holding Ltd., which climbed 51%, and CIFI Holdings Group Co., which gained 25%.
This week’s rally comes as China’s government mulls added steps to stimulate demand in the property sector. China’s State Council is considering a proposal to have local governments across the country buy millions of unsold homes from distressed developers at steep discounts using loans provided by state banks. Many of the units will then be converted into affordable housing, Bloomberg reported on Wednesday. Across China’s major cities, local governments are putting together efforts to loosen home purchase rules. Xi’an, the capital of Shaanxi province, and Zhejiang province’s capital of Hangzhou both scrapped all their remaining curbs on residential property purchases last week.
https://news.bloomberglaw.com/capital-markets/chinas-junk-dollar-bond-prices-rise-to-highest-since-2021