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Takeaway: Imagine there’s actually a credit consequence to this nonsense.

So ... Japanese Prime Minister Shinzo Abe’s cabinet just approved a ¥28.1 TRILLION fiscal bazooka. For the record, that's roughly $274,000,000,000 in U.S. Dollars. And then ... and then ... both Yens and JGBs went the wrong way on the news!

Wow. Imagine there’s actually a credit consequence to this nonsense.

JGB 10yr yield now +18 basis points in a month (to -0.08%); Nikkei resumes #crash mode, down -1.5% overnight (-22% from the 2015 Global Equity Bubble High)

Banzai? Japan Unveils ¥28.1 Trillion Viagra Package ... Market Shrugs - nikkei 8 2

Post-fiscal stimulus approval, Yen down -0.6%...

Banzai? Japan Unveils ¥28.1 Trillion Viagra Package ... Market Shrugs - usdjpy 8 2

 

In the past month, JGB 10yr up +18.7 basis points.

Banzai? Japan Unveils ¥28.1 Trillion Viagra Package ... Market Shrugs - jgb 8 2