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....MOREZeroHedge also caught the move and added a handy arrow for the directionally challenged:
Bank sell-off reignites to drag down FTSE
I think we have a theme hereBank 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:...