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 30Year auction on Monday night.
The International Monetary Fund warned this week of a further weakening of the global economy following the release of figures showing a significant decline in Chinese and global trade.
In the lead up to the fifth anniversary of the Fukushima nuclear disaster, three former Tokyo Electric Power Company (TEPCO) executives were indicted late last month over their role in the meltdown of three reactors at the Fukushima Daiichi Nuclear Plant.
Massive joint US-South Korean military exercises began yesterday under conditions of high tension on the Korean Peninsula following North Korea’s fourth nuclear test in January and rocket launch last month.
As expected, the North Korean leadership has escalated its rhetoric in the wake of the United Nations Security Council’s (UNSC) new, harsh sanctions on Pyongyang.
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