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by Georgi Stankov Posted on March 10, 2016
Georgi Stankov, March 10, 2016
But these artificial financial, bonds and stock markets are still subjugated to the Universal Laws of constructive and destructive interference which are applications of the Universal law.
Today, we saw a significant precursor of what can happen any moment from now on in the financial markets: a sudden plunge in Japanese government bonds that triggered a circuit breaker and halted the market for 30 seconds. Next time, it may be for ever. Please observe that the cabal have made the firm decision to crash the rigged, dysfunctional financial markets when they decide it would be the most favourable or desperate point in time for them.
Such glitches of the financial markets are now coming almost every day when the obvious manipulation of the charts by the criminal Orion banks can no longer be hidden.
It was just yesterday when we observed the record collapse across the Japanese curve when first the 10Y JGB plunged to an all time low -0.10%, followed promptly by 30Y yields dropping 21bps – the biggest absolute drop in over 3 years and biggest percentage drop ever – to a record low 47bps following Japan’s 30 Year auction on Monday night. Since Kuroda unleashed NIRP, as reported on this website end of January, the entire JGB curve has been crushed and the Monday night rush for long duration debt flattened the curve to record lows.
What a difference a day makes. Just 24 hours later trading of Japan’s government bond futures was halted for less 30 second after the price of the contracts dropped as much as 0.6 percent. As Bloomberg reports, the dynamic circuit breaker on the Osaka Securities Exchange was activated at 12:32 p.m. and was applied to March contracts according to Masaki Takahashi, who works in the market management department at the Osaka Securities Exchange.
The website of the OSE parent Japan Exchange’s website said the circuit breaker is triggered “to temporarily halt trading in order to allow investors to calm down when the market is overly volatile.”
The reason for the trading halt is that a day after sliding to the lowest yield on record, on Wednesday the benchmark 10-year bond tumbled, pushing yields up eight basis points to minus 0.015 percent as of 2:51 p.m. Yields rebounded after dropping more than five basis points to a record minus 0.1 percent Tuesday. The selloff was triggered after an increase in selling into the BOJ’s POMO when the bid-to-cover ratio for debt with 10 to 20 years to maturity rose to 3.58 from 2.93 last week, indicating stronger investor demand to sell, and that investors were looking to offload inventory to the BOJ (the rats are leaving the sinking ship).
And here is the moment the price collapsed triggering the circuit breaker.
“And so the market chaos even among the “safest” of securities, the result of central bank intervention, continues” concludes ZeroHedge. For us it is a joyful harbinger for the end of the old matrix and the beginning of our mission as Logos Gods and founders of the new Astral currency.
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