In response, the Topix bank stock index is at the highest since April. Last week there was a soft 10 yr auction and today was a messy 30 yr auction. I’ll repeat, for the first time in more than 20 years of BOJ easing, they are telling everyone that they want higher long term interest rates in order to breath some life into their banks.
This is a big deal in the context of the biggest financial bubble ever blown. Sorry for the hyperbole. Yields are up slightly in Europe and the US 10 yr is at 1.94-. 95%.
The October NFIB small business optimism index improved by . 6 pts m/o/m to 102.4 after falling in the two prior months by a total of 2.9 pts. For perspective, this number has averaged 102.9 year to date and the peak in the expansion was 108.8 in August 2018 just as the tariff fight was about to intensify.
The October NFIB small business optimism index improved by
After falling by 3 pts in September, Plans to Hire rose by 1 pt but finding the needed help is still the big challenge. With this, current Compensation Plans rose by 1 pt while future Comp Plans jumped by 4 pts to the highest since May…"
- Source, Peter Boockvar via King World News, read more here