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Amazing Story From Japan

by John Rubino on April 17, 2014 · 8 comments

Here’s something you don’t see very often: For a day and a half this week, the Japanese government’s benchmark 10-year bonds attracted not a single successful private sector bid. At today’s artificially-depressed yields, no one wants this paper — except of course the Bank of Japan, which is buying up the bonds with newly-created yen. […]

When Earnings Disappoint In A Market Priced For Perfection

After today’s market close there was a flurry of earnings announcements, some of which were way low. Not bad, mind you. In fact they were pretty good. But because Wall Street analysts were expecting more in order to justify current stock prices, the disappointments led to big price declines in the aftermarket: Google shares fall […]

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Welcome to the Currency War, Part 15: Europeans Ordered to Start Consuming

For the past couple of years the European Central Bank has been the only sane inmate in the asylum. Unfortunately, in a crazy world being sane just gets you into trouble. Sound monetary policy leads to a strong currency, which in a currency war is tantamount to unilateral disarmament. Unable to export sufficiently to a […]

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