The Traderszone Network

The Bank skipping OMOs today
– In effect, with maturing RRs today, it’s a 130bn drain net.
– There were (for a net drain of 100bn yuan)
For the week they’ve drained net 330bn yuan

Bank of Japan JGB purchase operation today
AS you can see from the headline, smaller purchase of 5 to 10 year Japanese Government bonds compared to the previous purchase operation.

For 99.9999% (our estimate) of Americans, there is great news on the way – retail bacon prices are about to plummet. However, with food accounting for 14% of CPI, we suspect the pork-price-pounding is about to become Janet Yellen’s new ‘transitory’ problem.

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No news hitting (I have heard)
The move has triggered a few stops (all moves do!), in this case above the overnight highs clustered above 109.60
Not much movement elsewhere, so yen crosses are higher alongside

By reinstating academic articles it had earlier taken down, one institution has done what larger entities have failed to.

Virginia Rep.

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JPMorgan Chase Chair Frenkel interviewed on Bloomberg TV:
In summary, the main points he made:
– Believes the Fed should raise rates
– Says “everyone expects it to happen”
On the more risk: