"Japanese banks don’t like something"

David Keohane at FT Alphaville:

Macro Man might just be on to that something here…

That green line heading down and away from the rest (which you shall see more easily after some enlarging via clicking) is the performance of Japan’s banks since the BoJ went negative last week.

 

That’s quite a slide and nothing like the experience under previous BoJ QE programmes. Heck, even the yen and Nikkei aren’t holding on to their moves.

What are the chances this bank dive isn’t down to that new negative rates regime? Slim, we’d suggest sarcastically....MORE

ZeroHedge also caught the move and added a handy arrow for the directionally challenged:

Previously: 
Bank sell-off reignites to drag down FTSE

I think we have a theme here

Bank Stocks are Starting to Look Extra Scary 
Why European Stock Markets Got Blitzed: Blame Oil Majors, Big Banks

We'll be back with more on the banks, in the meantime, from Investor's Business Daily:...