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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (14158)6/11/2013 2:09:44 PM
From: John Pitera1 Recommendation

Recommended By
roguedolphin

   of 33421
 
We have witnessed a selling of risk assets since the Japanese stock market and the $/ Yen Topped on Wed May 23rd..... @ 103 and change as quoted in the interbank market...

Art Cashin was right on the target when he talked about the issues in the Japanese bond market specifically the spike in the yield curve especially the 5 year note moving from 60 to 86 basis points.... that put many of the major Japanese financial firms with mismatched books and unhedged exposure..... and the Japanese equities had the initial 7% single day decline... and the fact that QE and the aggressive Japanese inflation program started to fray at the edges and some Global asset Macro Managers saw this as a harbinger of things to come in other countries.....

John
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