Day after day after day this ‘market’ is manipulated and managed by headlines that memory-less machines read and act upon. Today – yet again – at 210am Japan time, Nikkei news decides it is time to print these headlines:
*JAPAN GPIF TO CUT JAPAN DEBT ALLOCATION TO 35%, RAISE DOMESTIC STOCK ALLOCATION TO 25%: NIKKEI
And sure enough JPY explodes instantly in an attempt to spark momentum. This is not news (it’s a constant headline every day since October 19th) as Abe sacrifices his economy and his people’s economic future for an uptick in stocks.
This is not news!!!! its 10 days old!!
Japan GPIF will increase its allocation target for shares to about 25% from 12%, Nikkei newspaper reported without attribution.
— Morris Cabrioli (@insidegame) October 19, 2014
via Zero Hedge http://ift.tt/104lNus Tyler Durden