Krazy Kuroda

In a move that caught nearly everyone off guard, the Bank of Japan raised the ceiling on its Yield Curve Control policy today, moving it from 25 basis points to 50 basis points. This move has pushed rates higher around the globe, too, but it has also weakened the POSX which, to the HFT algos, is seemingly all that matters.

What a Krazy overnight and day this has been. The pressure on the BoJ to raise the YCC ceiling had been relenting over the past few weeks. However, the most recent hikes by The Fed, the ECB and the BoE must have been too much for it to bear.


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Key Economic Events Week of 11/27

11/27 10:00 ET New Home Sales
11/28 9:00 ET Case-Shiller home prices
11/28 10:00 ET Consumer Confidence
11/28 10:00 ET Goon Waller
11/28 10:00 ET Goon Ghoulsbee
11/28 10:45 ET Goon Bowman
11/29 8:30 ET Q3 GDP second guess
11/29 1:45 ET Goon Mester
11/29 2:00 ET Beige Book
11/30 8:30 ET PCE and Core PCE
11/30 8:30 ET Personal Inc and Spend
11/30 9:05 ET Goon Williams
11/30 9:45 ET Chicago PMI
12/1 9:45 ET S&P Manu PMI
12/1 10:00 ET ISM Manu PMI
12/1 10:00 ET Goon Ghoulsbee
12/1 11:00 ET Chief Goon Powell

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