Posted by timebandit on 28th of Jul 2023 at 10:50 am
From what I've been able to discern, this comes down to the Bank
of Japan announcement last night. I couldn't sleep and so was
listening to the meeting in Japanese and using Google Translate to
interpret (kidding!!! - I was following on twitter). If they had
come out more hawkish, the selloff would have had follow through.
Of course, that's just speculation. We'll never know (or we will
find out when inflation turns them from doves into hawks). Anyway,
the markets accelerated up when it was clear they were dovish.
yes Steve and I talked about it yesterday after the close - it
spooked the market (our bond market) and of course technically it
all lined up with the SPX opening right on that upper channel line
and the Dow Jones up 14 days in a row - so was logical for a
pullback there
From what I've been able
I felt so good yesterday afternoon and this morning just ...
Posted by timebandit on 28th of Jul 2023 at 10:50 am
From what I've been able to discern, this comes down to the Bank of Japan announcement last night. I couldn't sleep and so was listening to the meeting in Japanese and using Google Translate to interpret (kidding!!! - I was following on twitter). If they had come out more hawkish, the selloff would have had follow through. Of course, that's just speculation. We'll never know (or we will find out when inflation turns them from doves into hawks). Anyway, the markets accelerated up when it was clear they were dovish.
yes Steve and I talked
Posted by matt on 28th of Jul 2023 at 10:54 am
yes Steve and I talked about it yesterday after the close - it spooked the market (our bond market) and of course technically it all lined up with the SPX opening right on that upper channel line and the Dow Jones up 14 days in a row - so was logical for a pullback there
https://www.zerohedge.com/markets/market-panics-after-planted-story-boj-ycc-tweak-sends-stocks-tumbling-yields-and-yen
https://www.investing.com/news/economy/japanese-bond-yields-test-boj-ceiling-as-ycc-decision-looms-3136838
zerohedge.com
Market Panics After Planted Story Of BOJ YCC Tweak Sends Stocks Tumbling, Yields And Yen Soaring | ZeroHedge
Those furious there will be no record streak of 14 consecutive Dow Jones gains, please thank whoever at the Nikkei planted the story meant to send the yen and yields soaring....