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One Last Gasp

Markets go hyperbolic more often than we would like.  The only predictable fact is that markets cannot continue to go hyperbolic indefinitely.  I got a lot of flack for doubting the ability of bitcoin to continue its rocket trajectory, but in all bubbles comes a burst.  The burst is usually more noteworthy than the rally.

The Nikkei is our newest darling:

The most interesting question is whether this is the beginning of the unraveling for Japan.  Their 10 year yield has gone from 44bps to 85bps in a matter of a month and their stock market is overheating.  Is this the result of effective central bank intervention or the spasms before the collapse?

Posted in Economics, Markets.

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