TUESDAY 1/13/15; Japan Record Low Bond Yields; Oil and Copper Collapse; KBH; 10-Year Note Auction; US Stocks Rally then Collapse; CSX

Asia indexes are off to a soft start but move higher after China’s exports beat forecasts. China’s economy finished 2014 on an upbeat note. Japan markets resume trading after the holiday adding volume to Asian trading. The NIKK is weaker in the early going and finishes down -0.6%. The Japanese 5-year bond yield falls to zero percent for the first time. The JGB 10-year yield is down to 0.26%. Japan bank lending rises which is an encouraging sign for the troubled economy.

The SSEC is up marginally 





















[Text is Redacted: Purchase January 2015-01 to Read the Complete Chronology]

Fed’s Kocherlakota, an uber dove, says that more stimulus should be provided to support the economy. Kocherlakota flaps those dovish wings and warns that the Federal Reserve is moving too quickly to raise rates and should go at a far slower pace. S&P futures trade flat and are unresponsive since everyone expects Kocherakota to state the dovish case. In Nigeria, 140 Boko Haram Islamist radicals are killed as troops try to regain control of the northern regions.

US Treasury yields are; 2-year 0.53%, 5-year 1.36%, 10-year 1.89%, 30-year 2.48%.