Sharon

Quite the growth spurt for Kim Ju Ae.

For over a month *post-inauguration* last year you could buy EUR vol with a 6 handle before it had a four-sigma move in the next 3 months! It was cray cray.

Weaker dollar will juice S&P 500 EPS

Morgan Stanley via Augur Infinity
augurdigest.com/p/au...

in 2000 years "economic populism" will be understood as an organized movement to minimize the value of domestic currency. Experts remain deeply divided as to what the motivation was

I love this. Please, Mr President. Please do this all the way to November.

"My BF used to be from iowa but he's gotten better now"

We have a new one for the list!

i am once again going to become the joker

Rieder has some controversial views:
-cutting rates is deflationary due to housing supply
-keeping rates at current levels wastes money on govt debt servicing
-employment will only get weaker due to the productivity fairy
-> 3% inflation fine if due to stuff rates cant affect (most of the CPI 🙄)

Plaza Accord 2.0: electric boogaloo

Trump's comments suggest that moves to support Japanese FX intervention—to raise the value of the yen—may be part of an 80's-style effort to force the dollar lower. This could reduce trade imbalances, but risks generating extreme financial turbulence and distortions in the US and global economies.

After listening to lots of interviews of Warsh, Hassett and Rieder talking absolute bullshit for weeks, its actually gonna be nice to hear from Powell tomorrow. He talks bullshit too, at times, but at least its not intellectually intractable bullshit

oh no

Reminder that this person has millions of subscribers to her show lol

The only reason I knew about things like currency strength as a kid was because it determined whether my parents could afford to take us to visit Montreal or whether the tourist towns would be flooded with French Canadians in the summer.

a man wearing glasses and a black suit is standing in front of a sign that says ' the ' on it Alt: Larry David looking distraught as he considers both sides of a situation

Canadians not wanting to support the American tourism industry but also looking at that declining dollar

My dad bought a bunch of silver (I’m assuming for legitimately good reasons but I didn’t get it) and now we just have a lot of spending money. He used a fairly small share of it to buy a Miata

no don’t do this i’m going to japan on honeymoon in october keep shitcanning the yen

i do think it would be absolutely hilarious if CRA somehow ends up taking a majority since everyone is irritated about an election

that being said, i think she probably wins it

i should probably invest in a gold ETF

Gold best start to a year... ever

+20% through 17 trading days.

Trumpism is when you think an unpredictable currency is good for industrial production

famously this is what FX markets want to hear

Bloomberg now The US dollar tumbles after Donald Trump says he isn't concerned about a decline in the currency

I actually laughed out loud www.bloomberg.com/news/article...

I almost feel sorry for people who maintain quantitative FX models.

dollar please keep declining so i can import stuff cheaper from america

The only person who seemed able to remain relatively popular and keep the LDP winning elections for 8 years was Abe. And he kept nurturing Takaichi, which people thought was an odd move. Yet now she's quite popular and, if she does well in the election, Abe's gamble starts looking pretty good.

Japan also has a current account surplus, and JPY itself is already cheap. the risk is more co-ordinated intervention to strengthen it, then a carry trade unwind trashing US equities. yes, Takaichi wants to boost growth via fiscal policy, but it's doable in a way it wasn't in the UK when Truss tried

you have to remember who owns the bonds, the answer being almost entirely govt and domestic investors. there's no threat of foreign holder selling breaking JGBs. secondly, Japan own huge amounts of foreign assets, and selling USTs to buy higher yielding JGBs is attractive now. this is not Truss Mk 2