SINGAPORE, Sept 22 (Reuters) – Stocks eyed their worst week in a month on Friday and Treasuries hit decade lows as investors hunkered down for U.S. interest rates to stay high for some time, while the yen was pinned near an 11-month trough after the Bank of Japan left short-term rates below zero.
Benchmark 10-year U.S. Treasury yields hit a 16-year high of 4.508% in Tokyo. Thirty-year yields hit their highest in a dozen years. NN: getting closr all the time. Considering coming energy driven inflation. Ans wage push inflation is the strikes embolden worker to demand more money. I am inclined to wait to 5.5% to start our ZERO operations. We filtered out the Fed is going to taper horseshit. And we are being rewarded for being smarter then those trillion dollar investment banks and Haverd MBA AI traders and of course the candle stick simpleton assholes.
The Bank of Japan (BOJ), as expected, maintained super-low interest rates and left its outlook and yield control policy unchanged to signal it was in no hurry to end massive stimulus. The yen fell about 0.4% to 148.12 per dollar after the announcement but stopped short of Thursday’s 11-month low, with traders extra wary of intervention after the BOJ noted it was watching the impact of FX moves on Japan’s economy. The Fed held rates this week, but traders heeded its pushback on bets for swift cuts in 2024 and were sellers along the U.S. yield curve. Fed members lifted their median projection for the funds rate in 2024 by 50 basis points to 5.1% and traders shaved about 15 bps from implied futures pricing, which has rates at 4.7% at the end of next year.