Well, the G20 “decided against scolding Japan” according to MarketWatch. The implication was that it remains open season on the weapon used by Japanese Currency Warriors.
Except that the Yen is holding to its cluster right at our long standing target of 106. Part of me still thinks it would be too good to be true for the Yen to be bottoming here, right at target with a world full of antagonists on the other side of the trade, but…
Yen daily chart still hanging around target area
e = external link
Hedge Funds Gone Wild Doug Noland 2.16.13
Get-Me-In-Mania Bob Hoye 2.16.13 (pdf)
Currency War is Not New, It’s Merely Escalating Michael Ashton 2.16.13
Fed’s POMOs Keep Market Aloft Tom McClellan 2.15.13
Free Online Conference & Report EWI 2.15.13 e *
Q4 Earnings & Revenue Beats B.I.G. 2.15.13 e
* The market is bullish right now and targeting higher levels into spring. Is that not a good time to start preparing for potential changes? Read and listen to the EWI viewpoint (especially as pertains to T bonds) and at least move forward as a stronger bull if nothing else. Yes, this is a promo (unlike some blogs, this one is not littered with front page ads). But it is a promo we believe in. It’s all free with no strings whatsoever.