Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

The BOJ's Brand Spanking New ETF Lending Facility

Quiddity Advisors

Macroeconomics

As of this morning's BOJ Meeting and <a href="https://www.boj.or.jp/en/announcements/release_2020/k200427a.pdf" target="_blank" rel="noopener">Monetary Policy Statement</a>, we have the first explicit version of QE Unlimited. This is not unexpected. The Nikkei came out with an exclusive super late on Thursday night saying the BOJ was considering it.The BOJ also today released its <a href="https://www.boj.or.jp/en/mopo/outlook/gor2004a.pdf" target="_blank" rel="noopener">Outlook for Economic Activity and Prices (April 2020)</a> showing substantial near-term pressures on the economy from covid-19 mitigation efforts. In response, the BOJ announced three major actions:<ol>
<li>An increase in the purchases of CPs and corporate bonds.</li>
<li>A strengthening of the Special Funds-Supplying Operations to Facilitate Financing in Response to the Novel Coronavirus (COVID-19) </li>
<li>Further active purchases of JGBs and Treasury Discount Bills</li>
</ol>A brief discussion of the implications is below.

As of this morning's BOJ Meeting and Monetary Policy Statement, we have the first explicit version of QE Unlimited. This is not unexpected. The Nikkei came out with an exclusive super late on Thursday night saying the BOJ was considering it.The BOJ also today released its Outlook for Economic Activity and Prices (April 2020) showing substantial near-term pressures on the economy from covid-19 mitigation efforts. In response, the BOJ announced three major actions:
An increase in the purchases of CPs and corporate bonds.
A strengthening of the Special Funds-Supplying Operations to Facilitate Financing in Response to the Novel Coronavirus (COVID-19) 
Further active purchases of JGBs and Treasury Discount Bills
A brief discussion of the implications is below.

BOJ Brings a Bigger Bazooka