{"id":39305,"date":"2022-12-21T06:43:00","date_gmt":"2022-12-21T06:43:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=39305"},"modified":"2022-12-21T16:25:51","modified_gmt":"2022-12-21T16:25:51","slug":"morning-brief-more-bad-news","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/morning-brief-more-bad-news\/","title":{"rendered":"Morning Brief – More bad news"},"content":{"rendered":"\t\t
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The Bank of Japan\u2019s surprise move on Tuesday continued to reverberate and dictate the moves in Asia, with the yield on 10-year JGBs rising, and bigger moves in the yen and stocks.<\/p>

The yield on 2-year JGBs has also risen above zero for the first time since 2015. This really underscores the aftereffects of the shock move from the Japanese central bank.<\/p>

Japanese stocks remained under pressure, with the Nikkei 225<\/a> coming under pressure and then reversing looks. The USDJPY<\/a> pair as the yen continued to gain strength.<\/p>

Moreover, The International Monetary Fund weighed in on the Bank of Japan raising its cap on 10-year Japanese Government Bond (JGB) yields from 0.25% to 0.5%.<\/p>

The IMF\u2019s mission chief to Japan said, \u201cWith uncertainty around the inflation outlook, the Bank of Japan\u2019s adjustment of yield curve control settings is a sensible step including given concerns about bond market functioning.\u201d<\/p>

He also added that \u201cProviding clearer communications on the conditions for adjusting the monetary policy framework would help anchor market expectations and strengthen the credibility of the Bank of Japan\u2019s commitment to achieving its inflation target\u201d<\/p>

Financial sector stocks, such as banks and insurance companies, rose on expectations of better profits from rising interest rates during the Asian session. Hong Kong<\/a> and mainland China stocks also gained. However, Taiwan posted some terrible data.<\/p>

The media reports from Taiwan say that export orders in November fell 23.4% year-on-year. This was shocking news as the number was expected at -12.8 year-on-year.<\/p>

This was the steepest fall since March 2009. Export orders to China fell the most, down 37.3% year-on-year. Despite its small size Taiwan is known to be a huge economic and export hub in Asia.<\/p>

Precious metals also remained in focus. Gold<\/a>, silver<\/a>, and copper<\/a> continued to retain recent gains after all three metals rose due to the Bank of Japan\u2019s policy move.<\/p>

Copper is a bellwether for economic growth globally, hence why \u00a0red metal is lagging gains in gold and silver, due to the fact that both metals are seen as safe havens.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The Bank of Japan\u2019s surprise move on Tuesday continued to reverberate and dictate the moves in Asia, with the yield on 10-year JGBs rising, and bigger moves in the yen and stocks. The yield on 2-year JGBs has also risen above zero for the first time since 2015. This really underscores the aftereffects of the […]<\/p>\n","protected":false},"author":4,"featured_media":24194,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[80,109,28,150,49,22],"yoast_head":"\nMorning Brief - More bad news - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/morning-brief-more-bad-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Brief - More bad news Morning Brief - More bad news\" \/>\n<meta property=\"og:description\" content=\"The Bank of Japan\u2019s surprise move on Tuesday continued to reverberate and dictate the moves in Asia, with the yield on 10-year JGBs rising, and bigger moves in the yen and stocks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/morning-brief-more-bad-news\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-21T06:43:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-21T16:25:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/03\/GettyImages-1283033434.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"501\" \/>\n\t<meta property=\"og:image:height\" content=\"308\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Morning Brief - 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