Monday, May 29, 2006
Central Banks
Telegraph: Ignore the world's biggest central banks at your peril
Round one to the Bank of Japan, ultimate cause of the violent sell-off in stocks, commodities, and riskier bonds across the world over the past three weeks writes Ambrose Evans-Pritchard
Posted by jason @ 04:31 PM (33 views) Add Comment
6 Comments
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1. Japanese Uncle said...
This is what we call "2階に上げてはしごをはずす"
Encourage someone to climb onto the roof by offering a ladder, and then suddenly remove it. All the poor chaps can do is jump from the roof, onto the crash landing, ending up with a few broken bones, or in the worst case, end of your life on this side of the world.
2. denzil said...
Jason, great find this article.
It's interesting to note a few hardy souls that think just because May is as near as dammit over the markets will turn quite calm again. I don't buy it one bit.
The markets may see periods of calm but the waters hardly look clear.
3. Japanese Uncle said...
Shinsei Bank is advertising 3-year term savings product with 5.5% p.a. They seem confident that the Japanese IR will climb up to 5.5% at leats within three years.
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5. Blindleadtheblind said...
good article, what is not said is that it the British banks which have replaced Japan as the buyers of $ debt...Japan with the trade surplus and UK with a huge trade deficit....go figure. Some big movements in the currency markets and chances are they will contine, this is going to push up IR much quicker than most expect...and bingo...HPC
PS...watch the derivatives market. 80% of this market is betting on currency movements...ouch
6. Paul said...
Yes JU, but 八起き七転び "Fall down seven times, get up eight"
But I don't think the US banking system will get back up quickly!