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BOJ Pigman Kuroda stares down the bond jackals. Spock – Bears Chat

Man, events are happening so rapidly lately that my little Spock fingers are struggling to peck out the many missives required to cover them.

The latest to-do involves BOJ Pigman in Chief, Kuroda, who as reported here:

…faced the snarling jackals in the JGB bond market pits and basically told them to pound sand and that the BOJ AIN’T gonna guarantee zero interest rates on 10-year sovereign bonds forever-and-ever, amen.

Of course, the bond jackals responded by selling off JGBs, driving up interest rates on Uncle Abe’s debt, and punishing Ms. Watanabe, who is a major holder of Thug debt. Also, Nikkei stock gamblers joined the bond vigilantes and promptly sold off equities, further pounding the AlphaPig’s efforts to reflate Japan’s economy out of its twenty-year doldrums.

(Spock Conclusion): It’s getting vicious out there, folks. Look for more wild gyrations like these coming to a theater near you. The AlphaPigs are backed into a corner and–as I pointed out in a post yesterday–desperate Thugs do desperate things.

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