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Thursday, March 28, 2024

Equity Futures Open Higher, Retrace 50% Of Losses On USDJPY Kneejerk

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

UPDATE: A little early to call yet but Fed’s Rosengren quoted in FT “QE will end in October unless something dramatic happens” has knocked USDJPY and S&P lower…

More incoherent chatter from Japan about raising Japan’s GPIF allocation to “more than 20%, or around 25%” on the basis of Prime Minister Shinzo Abe’s ‘expert views’ have sent USDJPY higher out of the gate and thus S&P 500 futures are tracking – just as they did Friday afternoon – higher. Treasury futures prices are 6 ticks lower (+2.5bps yield) – retraced all the bond-short capitulation gains from Wednesday. S&P futures are 9pts higher – retracing 50% of last week’s losses.

This…

  • *ABE’S VIEWS TO BE FACTOR IN GPIF ASSET REVIEW TIMING: SHIOZAKI
  • *JAPAN GPIF MAY RAISE STOCK ALLOCATION TO MORE THAN 20%: NIKKEI
  • *JAPAN GPIF TO BOOST STOCK ALLOCATION TO ABOUT 25%: NIKKEI

Did this…

Which means this…

Dead cat bounce (as the majors track back down to Russell 2000 weakness on Friday)… or new new highs?

Charts: Bloomberg

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