tyb
Japan's 10Y Yield On Verge Of Turning Positive As Abe Prepares Massive Debt-Busting Stimulus
After the world's negative yielding debt hit a record $17 trillion at the start of September, mostly as a result of Japanese debt the vast majority of which is trading in negative territory, this number has shrank substantially in recent months, sliding to $11.5 trillion in the past three months.Well, as of today that number is in danger of becoming far, far smaller in the coming days because the one single bond tranche that represents the biggest component of global negative debt, Japanese 10Y bonds, is on the verge of flipping to positive yield territory, for the first time since April.
In fact, overnight the 10Y JGB yield rose as much as just 0.8bps away from 0 following what was the lowest bid to cover for a 10Y auction since August 2016.So what gotten Japanese bondholders spooked in recent days? The answer: joining the rest of the world in pushing for even more debt, Japan - which currently has a debt/GDP of about 250% - is preparing an economic stimulus package worth $120 billion to support fragile growth (i.e., a debt-funded stimulus), according to the Nikkei and Reuters. While the package would come to around 13 trillion yen ($120 billion), it would rise to as much as 25 trillion yen ($230 billion) when private-sector and other spending are included. A similar stimulus in the four times as large US economy would be roughly $1 trillion. Some details: the 13 trillion yen includes more than 3 trillion yen from fiscal investment and loan programmes, as the heavily indebted government seeks to take advantage of low borrowing costs under the Bank of Japan’s negative interest rate policy. In other words, the government is hoping to kick start a lite version of MMT, and with everyone else begging Abe to be the world's MMT guniea pig, it just may work (if only for a bit). Direct government spending is expected to reach around 7-8 trillion yen.
The Nikkei business daily reported on the weekend that the government was considering putting together a large-scale stimulus package with fiscal spending exceeding $92 billion. Since then the number appears to have only grown. With the BOJ's stealth taper meaning Kuroda is now monetizing just a tiny fraction of the bonds the BOJ was mandated with buying for the simple reason that it has almost run out of monetizable debt, a fiscal stimulus may be Abe's only option, even if it means the ultimate collapse will be even bigger.
Meanwhile, Japan's collapse - ironically enough, a function of its massive debt load - has resumed, and in the third quarter, its economic growth slumped to its weakest in a year as soft global demand and the Sino-U.S. trade war hit exports, stoking fears of a recession. Some analysts also worry that a sales tax hike to 10% in October could cool private consumption which has helped cushion weak exports. Such spending could strain Japan’s coffers - the industrial world’s heaviest public debt burden, which tops more than twice the size of its $5 trillion economy. Despite the headline size of the stimulus, actual spending would be smaller in the current fiscal year, and economists are not expecting much of a boost.
https://www.zerohedge.com/markets/japans-10y-yield-verge-turning-positive-abe-prepares-massive-debt-busting-stimulus
>Castries, St. Lucia
that entire island is/was creepy as fuck. Bunch of zombies on the whole thing. That was 15 years ago too.
GFY toilet boi
https://asq.org/quality-resources/total-quality-management/deming-points
That brings back some old memories, in a prior life.
Hopefully they won't waste it propping up the markets but I fear they will to start. BOJ owns way too much of it. Abe has no choice at this point.
>>7421574 Former CEO (Bumble Bee) Convicted of Fixing Prices For Canned Tuna
>According to evidence presented at trial, Lischewski participated in a conspiracy to fix prices of canned tuna that affected hundreds of millions of dollars in sales throughout the United States
notable
Nike CEO sold $15.43m-Dec 2
Op ex/sale input $2.84m
https://www.finviz.com/insidertrading.ashx?oc=1236641&tc=7
from Oct 22
Nike CEO Mark Parker steps down just hours after Under Armour's chief executive leaves his role
Nike CEO Mark Parker is stepping down from his position as chief executive and will be replaced by former eBay CEO John Donahoe, the company said on Tuesday. Parker is stepping down, effective January 13, after 13 years as chief executive of Nike and three years as chairman, president, and CEO. He will become executive chairman of the board of directors and continue to work closely with the senior management team, Nike said in a press release. Nike announced the management shakeup just hours after Under Armour revealed that its founder, Kevin Plank, would be stepping down from his role as CEO. Plank will become executive chairman and brand chief.
Donahoe has been a member of Nike's board since 2014.
He is the president and CEO of ServiceNow, a cloud-computing company based in Santa Clara, California, and the chairman of PayPal Holdings. Before ServiceNow, he was president and CEO of eBay from 2008 to 2015 and the worldwide managing director of Bain & Co. from 1999 to 2005.
https://www.businessinsider.com/nike-ceo-mark-parker-steps-down-2019-10
Dec 3 release
DOJ release Dec 3 moran
The news itself not new. The release is.
Read it before announcing that you think everyone knows it all…like you.
asshole
Each title has a breakdown of who runs that program
http://www.efchina.org/Programs-en/CIP-en
Example capped
Insustry
http://www.efchina.org/Programs-en/CIP-en