Akane OtaniVerified account

@akaneotani

Wall Street Journal markets reporter. Reach me at akane.otani@wsj.com.

New York, NY
Joined March 2012

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  1. Pinned Tweet

    My longest WSJ story to date. Here’s my look at whether “Japanification” is inevitable here:

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  2. Retweeted

    An expected round of virus-driven global central-bank easing began late Monday with Australia's central bank cutting its policy rate by a quarter point to 0.5%, a record low

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  3. As often likes to remind us: big up days tend to happen around big down days.

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  4. Signs of a topsy-turvy market: the Dow just had its best day since March 2009, a day after closing out its worst week since 2008.

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  5. The VIX is trading near crisis levels, Credit Suisse says. But spreads in high yield aren't flashing warning signs yet:

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  6. Retweeted

    How far do stocks have to fall before they are worth buying? When you don't know what earnings or the economy are going to do, it is impossible to know. My latest

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  7. So to recap, we've now seen statements about the coronavirus released by: --the Fed --the ECB --the Bank of Japan --the World Bank + IMF

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  8. We've swung from seemingly indiscriminate selling to indiscriminate buying. Not very reassuring.

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  9. "The change in the expected funds rate that we have seen over the past two weeks has been within the top 0.5% of all two-week changes since 1991."

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  10. Jeez, outages on Fidelity, Vanguard, Schwab and now Robinhood over the past week...

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  11. Another possible sign the market could be headed for more volatility: CTAs are slightly short equities, but still have more exposure than they did during selloffs in 2011, 2016 and 2018, according to DB.

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  12. Stock futures have been super volatile lately, with last night's session bringing S&P 500 futures up more than 1%--then firmly in negative territory, then back up again. One possible explanation? Per Deutsche Bank, liquidity in S&P 500 futures fell to near record lows last week.

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  13. Is it Friday yet

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  14. Happy Monday. Here are my thoughts on the markets from this morning’s 10 Point newsletter:

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  15. Similar take from Strategas, which doesn’t think a rate cut will solve everything but believes “the costs of inaction on the part of the Fed are far greater than any action they could take to provide liquidity to the market”

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  16. JPMorgan’s David Kelly: “It should be noted that a rate cut would be very unlikely to bolster economic activity. However, it could further diminish the attractiveness of bonds and thus help support the stock market.”

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  17. A sub-1% yield on the 10-year doesn’t look so out of reach anymore. No one saw this coming.

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  18. Stock futures have pared some of their initial losses but the bond market is ringing alarm bells:

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  19. Retweeted

    United Airlines, Mastercard, Coca-Cola, Apple and Microsoft warned the epidemic could impact earnings “It’s typically very hard for the market to go up in the face of those near-term estimates coming down” Via ⁦⁩ ⁦

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  20. “Wow, you were right,” a client texted one investment manager. “I wish I had hedged.” With and :

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  21. Retweeted

    Is the worst over for markets after the coronavirus-triggered rout? Probably not, say market technicians

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