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Here's a cute one: The BOJ asset purchase program stumbled last night when the bank failed to...

  • Wednesday, May 16, 2012, 8:11 AM ET
    Here's a cute one: The BOJ asset purchase program stumbled last night when the bank failed to meet its goal of purchasing ¥600B in 1 and 2-year paper as just €480.5B was offered up to be sold. "There is nothing to invest in when (banks) sell short-term notes," says an analyst. Two-year Japanese paper yields 0.11% ... "nothing to invest in."
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    The USD/JPY pair broke the resistance point at 80.28 yesterday and should see some upside. Appears the lower support trend line has formed its first bottom base from its reversal in early February. Long YCS, and added to the position yesterday AM. Japan has many issues, that will likely come to the forfront after the Eurozone news cools....
    16 May 2012, 08:36 AM Reply Like
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