|Monday, Sept 12, 16|
SPX Down, Dollar Up, Crude Down , Global Bond Selloff
The value at risk shock continues to plague global markets now in the second session. At the epicenter is the BOJ’s steepening of its yield curve. Not less than 24 hours, the FED provides hawkish comments who Fed’s Rosengren saw a “reasonable case” for rate hikes. The combination of BOJ manipulation of yield curve plus Fed Hawk speak has induced a global bond selloff spilling over into commodities and currency readjustments.