This Is What A Broken Market Looks Like: No One Traded 10Y JGBs On Tuesday

So on Tuesday, not a single 10Y JGB traded. That was the first time we’ve seen a completely lifeless session since June 29.

Yeah, I mean markets were hesitant ahead of CPI in the U.S., but we all know what’s going on here. Kuroda has cornered the JGB market. He owns something like 40% of it and on some issues, he’s damn near the only game in town.

David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.