Remember when early August the strengthening of the yen and ensuing carry trade unwinding was seen as a huge threat for the equity market?
Fast forward to mid-September: the S&P 500 and USDJPY are taking two opposite directions. The market doesn't seem to care anymore about the yen... Source: Bloomberg, RBC
One of the most striking charts this year: China’s startup ecosystem has almost completely collapsed in the last 5 years
Source: FT thru Alec Stapp on X
Net long positions on the Japanese yen hit ~45,000 last week, the highest level in 3.5 years.
By comparison, in early August, speculative positions reached net short ~180,000 contracts, the most in at least 20 years. The las time such a sharp reversal from short to long occurred was during the 2008 Financial Crisis. This comes after the Japanese Yen has strengthened against the US dollar by 12% since July as the carry trade has scaled back. The $USDJPY pair is flat year-to-date and is trading at its lowest level since the first week of January. Japanese Yen volatility is still here. Source: The Kobeissi Letter
Another Japanese Yen market shock is coming warns T. Rowe Price 🚨
Source: Barchart
Eye-opening chart, standard of living in Poland is catching up with Japan within just one generation...
Source: Michel A.Arouet
The Bank of Japan (boj) is still on a path toward higher interest rates provided inflation and economic data continue in line with its forecasts
“If we are able to confirm a rising certainty that the economy and prices will stay in line with forecasts, there’s no change to our stance that we’ll continue to adjust the degree of easing,” Ueda said in response to questions in parliament Friday. Source: Bloomberg
Japanese Stocks have both fallen and risen more than 20% in the last month
Source: barchart
China names healthcare, education, tech as likely venues for more foreign investment
Source: South China Morning Post
