Via Bloomberg:
The weakest correlation between Japanese bond yields and stocks in 23 years
Showing how dependent japan's markets have become on central bank support
- The 60-day measure tracking moves between Japan's Topix stock index and the 10-year benchmark government bond yield fell to negative 0.33 on Wednesday, the lowest since 1992 and below the 1 level that would represent lockstep moves. The last time the relationship broke down in April 2013, the Topix fell for four straight months, the longest since the rout triggered by Lehman Brothers Holdings Inc.'s collapse in 2008. A similar pattern can also be seen in December 2010 and February 2007.
