If it weren’t for the yen plummeting against the dollar, I’d throw a bottle of pear juice at this rally and say ‘bahumbug.’ Truth is, the fate of the world lies in Tokyo, center of the world as it pertains to Pokemon.
The yen strength has been a beacon of failure for the central banksters, a repudiation that told the narrative of wanton failure. If the Bank of Japan couldn’t weaken its own currency, in spite of having unlimited resources to throw at QE, how could one sleep at night with all of that danger lurking about the bend.
Never fear, Kuroda is here and he’s saved the day.
The yen is plunging, mind you, against the dollar, by almost 2%.
With renewed weakness in the yen, advantageous hedge funders can borrow in yen and buy a shitload of SPY futures with the proceeds. Or, they can borrow in yen and buy hamburger stocks. Either way, the yen is the keystone to liquidity for gamblers and financial engineers on a global scale, so it’s a good thing the value of it is decreasing.
We live in a fucked up world. Markets are hitting new all time highs today.
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