Just getting around to reading end last week's news (after being away for 4 day weekend) and see this from Bollomberg:- And finally, here's what Garfield’s interested in this morning Central bankers have this month continued to warn bond markets that they are overly eager to price in rate cuts. European Central Bank head Christine Lagarde said it’s too early to declare victory over inflation. UK and Australian policymakers made it clear their economies may still need further rate hikes. One ECB official even declared that investors betting on rate cuts risk actually loosening financial conditions enough to lay the groundwork for a fresh hike. The Bank of Japan, meantime, looked like it was shifting a bit more toward at least thinking about tightening policy. It trimmed some bond purchases and is pulling back from buying equities and real estate investment trusts. Pimco was encouraged enough to start buying the yen on anticipation a sea change is on the way. Africa’s biggest economies, however, remain stuck in a world where even a plateau in rates may be hard to achieve. Acute currency weakness and brisk inflation mean a number of major nations are likely to hike rates — as Angola just did — while others are firmly in higher-for-longer mode. Nigeria’s central bank scrapped a policy meeting for a second time since Governor Olayemi Cardoso was nominated to the post in September, raising concerns about attempts to bolster the nation’s currency, which has plunged more than 40% this year. + + + BOJ t h i n k i n g about shifting towards the tight side. + + + While JPY 10yr Yield just dropped a week ago biggest % difference and trading days since March:-
USDJPY getting decimated tonight. Got lucky catching that down current. However, I say we've finally turned the corner. Just jumped in long from 145.27.