perhaps some juicy stories are going to come out of this
the hammering around the 150 level, then the breach, & the revelation that BoJ wasn't 'officially' doing an intervention
maybe some random hedge fund got caught on the wrong side & was trying to smash the bids, a la South African rand quote stuffer (lol instead of stuffing the stockings on Christmas he was stuffing the DOM, all for +20 bps return on their underperforming fund)
it's kind of reminiscent of the action around Treasuries this spring - very turbulent with a few shady smashes - afterwards it came out that a whole bunch of "smart" money had been positioned the other way in massive lots & were doing their utmost to fight the market before being washed out
the hammering around the 150 level, then the breach, & the revelation that BoJ wasn't 'officially' doing an intervention
maybe some random hedge fund got caught on the wrong side & was trying to smash the bids, a la South African rand quote stuffer (lol instead of stuffing the stockings on Christmas he was stuffing the DOM, all for +20 bps return on their underperforming fund)
it's kind of reminiscent of the action around Treasuries this spring - very turbulent with a few shady smashes - afterwards it came out that a whole bunch of "smart" money had been positioned the other way in massive lots & were doing their utmost to fight the market before being washed out
