A decade ago, I didn’t know what a “bond yield” was. I had (have) a BARELY passing 2.51 GPA from college. I moved to Tokyo with no job, nowhere to live. Nonetheless, Goldman Sachs hired me to trade futures & options. Here’s my story👇. trading & markets

I’m still going to continue calling out “Nikkei exclusive”policy leaks from BOJ, MOF & other blatantly dead-on “accurate” state-media behavior. Obviously.

Looks like I accidentally made it in the back door of being published in Nikkei.Not that that’s by any means a goal, let alone an interest of mine. “What to do about Trump’s $9tn debt dilemma”.by @IChronicle ←owned by @FT← owned by @nikkei. “Another

Meaning behind / why I chose the name. “Across The Spread”. 👇.

RT @acrossthespread: 🇯🇵8035 Tokyo Electron at close:.-18% (lows of day near limit down open level),.highest value traded & worst performer….

🇯🇵8035 Tokyo Electron at close:.-18% (lows of day near limit down open level),.highest value traded & worst performer among ALL. 🇯🇵didn’t have a bad day.NKY -0.6% (heavyweight TEL).TOPIX +0.2%, most sectors↑.1,314 stocks (80%)↑ vs 274↓. 🇰🇷-3.9%.🇭🇰-0.9%.🇨🇳-0.5%.🇺🇸EMINIS -0.8%

In case anyone in BTC or semi sector cares - flagging 🇯🇵8035 Tokyo Electron getting 💣. Shares took 25 mins past 🇯🇵cash open to trade, plunged -18% on massive volume, halted. 8035 TEL is a major semi/SPE manufacturing co, & I think top 5 NKY225 weigh. Big earnings miss, guidance

USDJPY prints >150 recovering back to Liberation Day levels, as DXY still remains considerably lower. i.e. JPY weakness outpacing USD weakness

Entire 🇯🇵BOJ policy decision statement👇.“Bank will encourage the uncollateralized overnight call rate to remain at around 0.5%”. I don’t care what reason- as long as BOJ’s policy rate stays at 0.5% “BOJ 50bp ceiling” is not a “perception,” it’s simply the reality until no longer

“Doing the rate hiking for 🇯🇵BOJ”

This might sound a bit weird but 🇯🇵🤡Ishiba’s relentless refusal to step down as PM via his almost heroic level of dedication to very openly not giving A FUCK what 🇯🇵 wants / elects / demands etc - this sheer resolve is also helping prevent long-dated JGBs from cratering (though

“We succeeded in limiting the tariff rate imposed on Japan to 15%, down from 25% originally planned. This is the lowest rate negotiated to date by any country running a trade surplus with the US.”. -🇯🇵🤡Ishiba. 1. Should prob mention the $550bn to get 15%. 2. Seems 🇯🇵=🇪🇺’s “deal”.

RT @acrossthespread: As time ran out with @kofinas, further commentary to add onto the end of our discussion - my view on this whole “Powel….

Relevant charts discussed: . 🇯🇵JGB 30Y yield vs 🇺🇸UST 30Y yield. USDJPY & 🇯🇵🇺🇸 yields in run up to 🇯🇵Upper House Election Day. 🇯🇵NKY vs 🇺🇸NDX performance (including the NKY +5% surge upon 🇯🇵trade deal announcement). USDJPY & UST 30Y

As time ran out with @kofinas, further commentary to add onto the end of our discussion - my view on this whole “Powell fired early by Trump” matter (from note published 4/30)👇. “Trump actually wants and needs Powell to not only stay, he also needs Powell to continue touting

Background summary explaining why 🇯🇵JGBs are the world’s most dangerous market 👇

Check out my appearance @HiddenForcesPod with @kofinas discussing major risk to JGB (& therefore🇺🇸🌎DM) long-end bond markets via the now post-election fractured & highly uncertain state of 🇯🇵politics → vastly wide range of potential JGB issuance coming👇.

RT @kofinas: Best quote ever by @acrossthespread describing Japan as "the developed world's North Korea" because "everyone within the Japan….

RT @GearoidReidy: What’s going on with Japan's Prime Minister Ishiba? Is he resigning or not?. To clear up some confusion, here’s what we k….

See clip for context of this from: . “World's Most Dangerous Market: Japanese Government Bonds (JGBs)” on Across The Spread YT