{"id":358912,"date":"2025-12-19T23:24:11","date_gmt":"2025-12-19T23:24:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/358912\/"},"modified":"2025-12-19T23:24:11","modified_gmt":"2025-12-19T23:24:11","slug":"slightly-weaker-no-its-not-japan","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/358912\/","title":{"rendered":"Slightly Weaker. No, It&#8217;s Not Japan"},"content":{"rendered":"<p>&#13;<br \/>\n                Slightly Weaker. No, It&#8217;s Not Japan&#13;\n            <\/p>\n<p>There was a fair amount of momentum among financial news sources regarding the potential significance of last night&#8217;s Bank of Japan (BOJ) announcement to the U.S. bond market. While it was clearly relevant for Japan, it&#8217;s hard to make the case that it had any impact on overnight Treasury trading.\u00a0 It&#8217;s always worth remembering that Japan&#8217;s biggest impacts on the U.S. bond market are driven by the Ministry of Finance (MOF) and not the BOJ.\u00a0 In any event, today&#8217;s chart shows the relative movement in USD\/Yen (the easiest place to see BOJ impacts) and Treasuries. 10yr yields were perfectly flat for an hour after the initial announcement.\u00a0More strikingly, yields were a hair lower from 1:30am to 3:00am when $\/Y was surging during the press conference.<\/p>\n<p>(NOTE: the y-axes of the chart were set based on the highs and lows of the previous day in order to highlight the BOJ impact)<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/a.mbslive.net\/assets\/69456abda4439ef713178ed8\/69456abda4439ef713178ed8.png\" alt=\"20251219 open.png\" style=\"max-width: 500px; border: 0;\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"&#13; Slightly Weaker. No, It&#8217;s Not Japan&#13; There was a fair amount of momentum among financial news sources&hellip;\n","protected":false},"author":2,"featured_media":358913,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":{"0":"post-358912","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/358912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=358912"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/358912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/358913"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=358912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=358912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=358912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}