{"id":27791,"date":"2013-02-12T18:39:50","date_gmt":"2013-02-12T17:39:50","guid":{"rendered":"http:\/\/feedproxy.google.com\/~r\/zerohedge\/feed\/~3\/B1K3ph4fp7Y\/story01.htm"},"modified":"2013-02-12T18:39:50","modified_gmt":"2013-02-12T17:39:50","slug":"mrs-watanabe-is-back-and-now-has-record-margin","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/breaking-news\/mrs-watanabe-is-back-and-now-has-record-margin\/","title":{"rendered":"Mrs Watanabe Is Back And Now Has Record Margin"},"content":{"rendered":"
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It is now clear that Abe and his pals are all-in on the reflation strategy – albeit scorned in their unilateralism by the G-7. Stocks (and oil prices) have surged as the JPY plunged – but things are getting even more critical in the land of the rising sun. The retail investor is all-in too<\/strong>; individual investors\u2019 share (cash transactions only) has risen sharply to 34% – the highest level since June 2009; the combined trading value of the seven major internet brokerages expanding 86% MoM<\/strong> to \u00a519.5tn in January, marking the highest level since April 2006; and aggregate margin trading<\/strong> at the seven online brokerage firms has doubled<\/strong> from \u00a57.3tn in December 2012 to \u00a514.3tn in January 2013. Retail, according to Goldman, tend to focus on low price, small cap stocks<\/em> – as if the markets’ relative beta was not enough. If the BoJ was hoping for a M.A.D. situation<\/span> – it appears they have it as retail is now fully (and levered) exposed to Abe’s endgame (let’s just hope energy costs don’t crush that dream).<\/em><\/p>\n

Retail trading volume is its highest since 2009…<\/p>\n

<\/a><\/p>\n

as, thanks to considerably easier margin rule changes in January, margin transactions have almost doubled MoM…<\/p>\n

<\/a><\/p>\n

Charts: Goldman Sachs<\/em><\/p>\n

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It is now clear that Abe and his pals are all-in on the reflation strategy – albeit scorned in their unilateralism by the G-7. Stocks (and oil prices) have surged as the JPY plunged – but things are getting even more critical in the land of the rising sun. The retail investor is all-in too<\/strong>; individual investors’ share (cash transactions only) has risen sharply to 34% – the highest level since June 2009; the combined trading value of the seven major internet brokerages expanding 86% MoM<\/strong> to ¥19.5tn in January, marking the highest level since April 2006; and aggregate margin trading<\/strong> at the seven online brokerage firms has doubled<\/strong> from ¥7.3tn in December 2012 to ¥14.3tn in January 2013. Retail, according to Goldman, tend to focus on low price, small cap stocks<\/em> – as if the markets’ relative beta was not enough. If the BoJ was hoping for a M.A.D. situation<\/span> – it appears they have it as retail is now fully (and levered) exposed to Abe’s endgame (let’s just hope energy costs don’t crush that dream).<\/em><\/p>\n

Retail trading volume is its highest since 2009…<\/p>\n

<\/a><\/p>\n

as, thanks to considerably easier margin rule changes in January, margin transactions have almost doubled MoM…<\/p>\n

<\/a><\/p>\n

Charts: Goldman Sachs<\/em><\/p>\n

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