As Japan Opens, Nikkei 225 Down Over 500 Points From Overnight Highs – Below 17,000

UPDATE: Nikkei 225 Futs lose 17k – trading 16,985

Time for some GPIF asset re-allocation and spuriously repetitive headlines about Abenomics, 3rd Arrows, growth, anti-deflation, or some such bollocks (as they say in Japan). For now, JGB Futures are at all-time record high prices, USDJPY sits back under 119.50, and Nikkei 225 Futures are holding just above the crucial 17k mark – down over 500 points from last night's highs.