The BoJ still really matters/Other things of note

I still wake up and see what went on in Japan overnight as one of my first things, particularly with JGB yields and the yen, and as an owner of some Japanese stocks, as I don't think the global liquidity ripple effects of BoJ monetary tightening is done yet. Especially as the BoJ will be reducing its pace of JGB purchases through March 2026, where QE has been a massive liquidity spigot to the world over many years. BoJ Governor Ueda today, according to Bloomberg News and citing a comment he made in a document given to the Japanese parliament where he gave color on the rate hike in July, said they will continue to hike interest rates "if the economy and prices perform as expected by the BoJ" said the BN news article. The 2 yr JGB yield continues to quietly rebound and is at a one month high. The yen is higher too in response. 

2 yr JGB Yield

I want to reiterate my positive stance on the price of natural gas and related stocks, like EQT that we own, as around $2 per bcf is an attractive price with the US gas rig count continuing to drop. On Friday, the Baker Hughes natural gas rig count fell to the lowest since April 2021.