Investors at home and abroad can’t get enough 10-year Japanese government bonds, driving the yield to an unprecedented minus 0.135 percent.
Europeans, Rejoice! The ECB Is Cancelling Your Debt! - by Richard Duncan (LINK)Yields sank across the curve Friday after the Bank of Japan’s operation to buy long-term debt met the lowest investor participation on record, spurring what Bank of America Merrill Lynch strategist Shuichi Ohsaki called “panic buying.” The yield on the benchmark 2026 notes sank as much as 8 1/2 basis points Friday to below the minus 0.1 percent deposit rate introduced by the central bank last month, while that on 20-year securities tumbled more than 10 basis points to an unprecedented 0.29 percent.
We have a comprehensive Baselworld guide to the key trends in watches and jewellery, plus the Hatton Garden heist’s untold story, smartwatch legal battles and 3D printing.Quote of the day, from Doris Kearns Goodwin, Presidential Historian, on Charlie Rose in December 2005 (~4:59 mark):
I think [that] when we look at who we are going to elect for President, we really should look at their temperament...For example, Lincoln had this most amazing set of emotional strengths...He was the kind of person who, when he made a mistake, he learned from it; he acknowledged it immediately. He shared credit with other people when something went well. When something went wrong in the Administration, he would shoulder responsibility for blame. If he were mad at somebody, he'd write a hot letter, wait for his emotions to cool down, and never need to send it...He would say, 'Yes, I've changed my mind on something, I'd like to believe I'm smarter today than I was yesterday.' It's so simple...