Does anything last in the market? Equilibrium is everywhere unstable in the system ------> you make hay while it lasts I think is a suitable english phrase.
The bull run on the yen continues to strengthen and this is helping the dollar to also continue its own recovery, but can it last? The news that the Bank of Japan had lowered its asset purchases last month has given a jolt to the bond markets. Primarily it has driven a sharp upside move on longer dated Japanese Government Bond yields and subsequently a yen rally as investors have moved to speculate on whether this is a “stealth” form of tightening monetary policy. However, the move has also driven Treasury yields sharply higher, with the 10 year yield spiking to 2.56%, a nine month high. Furthermore, the dollar is also following the yen in ... (full story)