https://www.globalresearch.ca/us-rejection-moscow-offer-peace-talks-utterly-inexcusable/5796231
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
By Stan Szymanski
The Japanese benchmark 10 year JGB has traded for the first time in 5 trading sessions. A new shocking fact has presented that the JGB 2 year is NOT trading:
…’The two-year JGBs were not traded and the yield JP2YTN=JBTC stayed at -0.060%, while the five-year yield JP5YTN=JBTC rose 0.5 basis point to 0.065%.’…(Nasdaq 10/13/22)
How does a ‘First World’ economy have a benchmark bond (the 10 year) that doesn’t trade for four days? This has never happened since the JGB 10 year became the Japanese benchmark in 1999.
This is a lack of liquidity. Simply put where there is no bid, there is no market. The JGB benchmark 10 did not trade for FOUR FULL TRADING SESSIONS. Now the 2 year trading is absent. This kind of price action (or lack thereof) is typical of ‘pink sheet’ stocks:
…’Pink sheets are listings for stocks that trade over-the-counter (OTC) rather than on a major U.S. stock exchange. Many pink sheet listings are stock shares in companies that cannot meet the requirements for listing on a major U.S. stock exchange like the New York Stock Exchange (NYSE).
Most pink sheet listings are low-priced penny stocks, meaning that they trade for less than $5 per share, and trading in pink sheet securities is often viewed as highly speculative.’…(Investopedia)
There are plenty of Pink Sheet stocks that do not trade every day. There are those that do not trade every week. Many of those are headed toward bankruptcy.
And yet we have a Japanese 10 year that is trading with a yield under 0.25%. The Japanese 2 year is not even trading and the Japan gov’t has the temerity to report that the price of their 2 year note is so high that it sports a negative rate of -.065% while at last look the standard (at least for now) US 10 year is trading at 4.06%.
In my opinion, the Japanese economy is like the CEO of a pink sheet traded stock bragging that they are a top tier concern when in fact they know that, most likely, they have a bankruptcy filing in their future.
The Japanese Yen is now trading at the worst levels against the US Dollar since the 1998 lows.
There is no way this lack of equilibrium can be maintained. Either the Japanese will change rate policy themselves or the markets will do it for them-likely in a brutal manner of repricing to the downside.
The Japanese own almost 50% of their own bonds. It certainly looks as if the other 50% of investors in that market are stepping away from the bid side of JGBs. We have now seen multiple cases just in the last few days of ‘no bid’ for these securities. Where there is no bid, there is no market. Just like the pink sheet stock, it is technically alive and listed, but no one is buying.
When it comes to the story the Japanese government is telling the market with its yields and prices in the Japanese bond market, how can they continue to be listed as top tier securities (or even solvent) when no one is actually buying them? How many worldwide asset managers and mutual funds are exposed to these ‘pink sheet bonds’? You had better ask your broker or your 401(k) ‘once a year meeting at work’ financial representative before you find out the hard way.
———-
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Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
It’s not just in Australia…
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://usawatchdog.com/inflation-75-year-high-unemployment-24-john-williams/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Image credit: YouTube via https://www.smalljoys.tv/colonoscopy-doctors-what-to-say/
By Stan Szymanski
The Japanese 10 Year Government Bond became the Japanese ‘benchmark’ security in 1999.
What Is a Benchmark Bond?
A benchmark bond is a bond that provides a standard against which the performance of other bonds can be measured. Government bonds are almost always used as benchmark bonds such as on-the-run U.S. Treasuries. (Investopedia)
Or in the case of Japan, the 10 year JGB. And the JGB has not traded now for 3 DAYS.
Benchmark bonds are typically also what influences rates of other debt instruments in an economy such as credit cards and mortgages.
…"Japan's 10-year bonds have gotten expensive because yields on other notes have risen. No one is interested in trading such bonds," said Kazuhiko Sano, chief strategist at Tokai Tokyo Securities.
"The market in a very unusual situation." (Reuters via Yahoo Sports)…
In other words, the rest of the world is constantly repricing assets (these days, typically lower) given the terrible influence that inflation has imposed on the markets.
Up until now, Japan has maintained abnormally low interest rates through the monetization of their debt market via the Japanese government buying their own bonds.
…‘The BOJ has been spending trillions of yen to hold the ceiling on the 10-year Japanese government bond yield as it keeps an ultra-low rate policy to support the economy, going against the global tide of tightening to contain inflation.’… (Reuters via Yahoo Sports)
That brings us to today. What does it mean that the Japanese Government 10 year bonds have not traded for 3 days? The Government of Japan has literally had its head ‘up its anatomy’. Or to co-opt/paraphrase a novel saying of author, moviemaker, and Godly news purveyor Steve Quayle during the past week-the Japanese government are …’experiencing an eyewitness view to a colonoscopy’…
I believe that the Japanese have hit a point where no one wants to buy their ridiculously and unnaturally high priced bonds. The rest of the financial world is living in some semblance of reality and is experiencing the painful reality of lower prices for their securities. The emperors of the financial markets in Japan have just been told through the lower pricing of securities (bonds) elsewhere in the world that the emperor has no clothes.
I believe that when the JGB 10 Year eventually starts trading again, there will be a shock to that bonds’ price to substantially lower it which will cause reverberating subsequent shocks throughout Japan in its markets and its populace.
What effect will this have in the rest of the world? We will have to see just how profound the consequences are but Americas’ strongest ally in the East is clearly weakening. Japanese vehicle manufacturers Toyota, Nissan and Honda have all recently pulled out of Russia. This is a collective loss of billions of dollars. Toyota alone sold 110,000 vehicles in Putin’s country last year.
During the market crash of 1987 market makers for some stocks simply walked away from their telephones; there was a de facto absence of a market for certain securities. Today is the third day with the absence of a market for JGB 10 year bonds.
During the last two weeks the problem was in the British bond market. Now it is Japan. Who’s next? Just how close is a global crash or even a collapse?
———-
If you appreciate this article can you consider a gift to Encouraging Angels for the intelligence we provided today? Click this link to give. We need the support. Links to this article are encouraged. Reproductions of this writing are only allowed by written permission of the author.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://euroweeklynews.com/2022/10/08/russia-state-duma-explosion-crimean-bridge-declaration-of-war/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice
https://freewestmedia.com/2022/10/05/unvaccinated-are-the-best-of-mankind/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Our 1st EA podcast is in the can..we have encountered a technical problem...waiting for tech help..will post when it is available.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.judicialwatch.org/covid-19-vaccine-campaign/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice
https://newspunch.com/u-s-buys-290m-worth-of-anti-radiation-drugs-amid-nuclear-war-fears/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice
5 pastors I know denied knowing about The Clergy Response Teams. They KNOW what is going on. The silence in the American Church is REAL.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice
https://www.sprottmoney.com/blog/We-Remain-on-Crash-Warning-October-04-2022
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice
All Rights Reserved.
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