A Chronicle of Readings and Actions

Japanic Monday: Japanese Bonds, Stocks Halted After Plunging Into Bear Market As Everything Crashes Everywhere

In our preview of last week's BOJ we refrained from giving details and merely shared a candid assessment of what we thought the result would be:
在我们对上周日本银行的预览中,我们没有提供细节,仅分享了我们对结果的坦诚评估:

And we were right, because by deciding to hike rates into an economic showdown, the BOJ – which as we noted last week “changed the rules” again – has unleashed a financial apocalypse by creating a positive feedback loop that culminates with a deflationary collapse of all assets (as the bank now goalseeks a surge in the yen and thus deflation and economic devastation) which has led to not only to the Nikkei promptly entering a bear market from its all time high hit just 3 weeks ago and wiping out all of its year to day gains, not to mention collapsing 15% since last week's BOJ meeting which we knew would be a disaster...
我们是对的,因为通过决定在经济对峙中加息,日本银行——正如我们上周提到的“再次改变规则”——释放了一场金融末日,创造了一个正反馈循环,最终导致所有资产的通缩崩溃(因为该银行现在追求日元的飙升,从而导致通缩和经济破坏),这不仅使得日经指数迅速从三周前创下的历史高点进入熊市,抹去了所有的年初至今的收益,更不用说自上周日本银行会议以来下跌了 15%,我们知道这将是场灾难……

... which has also just suffered its biggest two-day drop in history, surpassing Black Monday...
...这也刚刚经历了历史上最大的两天跌幅,超过了黑色星期一...

... but also the halt of trading of both its peer, the Topix...
... 还包括其同行 Topix 的交易暂停...

... as it too enters a bear market...
...因为它也进入了熊市...

... and the entire Japanese bond market:
...以及整个日本债券市场:

Meanwhile, among today's freefalling stocks are such names as the iconic Nintendo...
与此同时,今天自由下跌的股票中包括了标志性的任天堂等公司...

...and perhaps something more troubling, is that Japan's megabanks are in freefall, starting with Mizuho...
...也许更令人担忧的是,日本的巨型银行正在自由下跌,从瑞穗银行开始...

and ending with Japan's largest bank, its JPMorgan, if you will, which just plunged the most on record!
并以日本最大的银行结束,即摩根大通,如果你愿意的话,它刚刚创下了历史上最大的跌幅!

It's not just Japan: Korea is getting swept in as well...
不仅仅是日本:韩国也正在被卷入其中……

... and of course, the US, where Nasdaq futures crashing as much as 2% and the S&P is down 1.1%
... 当然还有美国,纳斯达克期货下跌了多达 2%,标准普尔指数下跌 1.1%

And then there's bitcoin which, well, lets not even go there.
然后还有比特币,嗯,我们就不谈这个了。

So strap in folks, the day is just getting started...
所以大家准备好,今天才刚刚开始……