The first day of a three-day weekend in Japan was a beautiful day and there was a bride in a wedding dress in Showa Kinen Park. The roads were crowded up and down, and I was an hour late.
Now, the market theme is again the FED raising the pace of interest rate hikes.
The rate hike is continuing to be raised. The 2-year Treasury note also continues to climb above 4.3%. The dollar has settled at the 145 yen level.
U.S. 2-year bond yield
USDJPY
The dark red area in the lower graph is the consensus forecast. The new view is that interest rate hikes will become flat after February 2023.
FedWatch
S&P500
NASDAQ
Action. A search for a bottom until a new catalyst emerges. Hedge again with NY Dow futures. The only long position that could make a return is the USDJPY. Painful development.