Hedge Funds reduced their bearish Japanese Yen bets by the 5th largest amount in history (week ended August 6)
Source: Bloomberg
China’s rise in coffee consumption
Bullish cocoa ? Source: Eugene Ng, The Economist
This is what triggered a global-scale sell-off of every major asset class...
A harsh remainder how shaky the global financial system is... Source: Bank of Japan, Sina 21st Capital on X
Chinese firms are fast turning away from US and Europe for greenfield FDI
• China is de-risking, too, by reducing reliance on western markets for trade and investment • In countries 👇 imports from China of intermediate goods used in manufacturing have tripled since 2013 Source: Agathe Demarais, The Economist
The Japanese Yen Carry Trade unwinding is only 50% complete warns JP Morgan
Source: Win Smart
A historical market session summarized in one chart
Japan’s stock market posted its worst drop since Wall Street’s Black Monday in 1987, contributing to fears of global turmoil in the markets. Concerns about a slowing U.S. economy and the unwinding of the global yen "carrytrade" are battering stocks. Source: Genuine Impact
The Nikkei's 12.4% decline today was the 2nd largest in its history, trailing only the 14.9% fall during the October 1987 crash.
What happened in the year after the 1987 crash? The Nikkei 225 rose 26.5%. Those who embraced panic were rewarded. Source: Charlie Bilello
JPY FX positioning is finally NET LONG (per GS).
The yen is now free to crash again... Source: www.zerohedge.com, Goldman Sachs
