Mr. Abe "wasted no time launching the first two 'arrows' of his three-pronged economic agenda, delivering bold fiscal and monetary stimulus that has weakened the JPY and lifted equities to five year highs," Izumi Devalier, Japan economist at HSBC, wrote in a research note on Wednesday, referring to the Japanese currency.
For example: Broker B: u see 3m jpy libor going anywhere btween [sic] now and IMM 4 Primary Submitter B: looks fairly static to be honest, poss more pressure on upside, but not a lot Broker B: Oh. we hve a mutual friend who'd love to see it go down, no chance at all?
Put another way, it seems to us that the recent and marked under performance of commodities and commodity based currencies relative to both the CHF and the JPY could be an early warning signal that sentiment is taking a significant turn for the worse in an echo of the way it did in late 2008.That's encouraging.
4.15pm GMT Another revealing exchange between RBS traders: Heidi N. Moore (@moorehn) "Trader C told Trader B JPY would go down 1bp.
"Unfortunately, there have been a series of personnel changes that have impacted directly on the management of the JPY relationship, caused by an unusual combination of factors including maternity leave, family illness and two instances of international migration, which has meant the depth of understanding and consistency in service that we strive for at Barclays was not met.
Testament to the production nous of Harry Vanda and George Young (no relation), JPY had originally asked the songwriting gurus to pen him a potential hit for the German market after his single Standing in the Rain had become a runaway success there.
Yardley is the founder and owner of JPY, a software firm based in Surbiton, Surrey, that makes and distributes workflow and data-management software, mainly for the media industry.
We are taking steps to ensure this highly valued relationship is back to a standard both ourselves and the JPY team are satisfied with".
JPY's modest plans to refurbish its main building would be treated as a new loan facility with all the administrative hoops and time lags that entailed.
But he admitted the bank's handling of JPY's account had fallen short of its expectations.
