Tokyo Market Rebound: Speculative Churn
This is a Tokyo news story, published by Yahoo Finance, that relates primarily to Mosaic news.
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big market swingsReuters
•Morning Bid: Rollercoaster markets, Nikkei rebounds 10%
78% Informative
The speed and scale of Tuesday 's 10% Tokyo bounce after its worst day in 37 years suggests the wild global market swings of the past week are more rooted in speculative churn than economic fright.
The finger points squarely at the build-up of low-volatility trades, variously involving currency 'carry' plays funded by Japan 's yen, short positioning in stock options and even Treasury futures arbitrage.
US Treasury sells $58 billion of 3-year notes, $46 billion of 12-month bills.
US corporate earnings: Super Micro Computer , Amgen , Caterpillar , Uber , Airbnb , Mosaic , Fox , Wynn Resorts, Molson Coors Beverage , Assurant .
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