Moments ago the yen spiked to a session high against the US dollar
The highest since Oct 12, after Japan's Nikkei reported that the Bank of Japan may tweak its YCC again and allow long-term yields to rise above 1% as soon as its Tuesdays meeting. Source: www.zerohedge.com
Gold's normal negative correlation to the dollar (upper chart) and US bond yields continue to collapse
Highlighting the current support for XAU as an alternative investment amid rising financial risks as yields surge and investors worry about developments in the Middle East (Chart: Bloomberg)
Tweet by Lyn Alden -> "Egypt is currently dealing with a sovereign debt crisis. Multiple ratings downgrades, currency devaluation, working with the IMF, etc.
So, people buy stocks. The stocks are not doing well in dollar terms, but they're doing fine nominally.
Argentina's currency has lost 96% of its value vs the USD in the past decade
In that period, the central bank has increased the monetary base by 2,046% to finance government political spending... Source: Bloomberg
The Israeli Shekel has fallen to its lowest price against the U.S. Dollar since early 2015
Source: barchart
Israel's Benchmark Index TA-35 plunges >6%, biggest drop since March 2020 after Hamas attack
The Hamas assaults mark the deadliest attack on Israel in decades and threaten to escalate into a broader conflict. Israeli shekel has slumped toward 7y low in recent days, ahead of the scheduled reopening of Israel’s parliament later this month. (HolgerZ via BBG)
According to SWIFT, the U.S. Dollar was used for 46% of all international payment transactions in July, a RECORD high
Meanwhile, use of Euro is collapsing. De-euroization rather than de-dollarization? Source chart: Bloomberg
Over the last 3 years, the US Money Supply (M2) has increased by 14%, US inflation (CPI) has increased by 18%, and National Debt has grown by 24%
And over that time the US dollar Index ETF has gained 19% while the Gold ETF has lost 5%. As eveyone predicted... Source: Charlie Bilello
