Tag: US Dollar
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The Joint Yen Intervention: Washington Buys Yen and the Carry Trade Blinks
Japan bought an estimated $59 billion of yen in a day, then the US Treasury joined: the first coordinated yen-buying in more than a decade, hours before a hawkish BoJ hold. Inside the joint yen intervention and what it means for the world’s largest funding trade.
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The Yen at a 40-Year Low: Why Record Intervention Keeps Failing
USD/JPY has traded through 162, the weakest yen since 1986, despite a record ¥11.73 trillion intervention and the highest Bank of Japan policy rate since 1995. Why the battle is really with the Fed.
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Gold’s Quiet Bear Market: 24% Off the Peak While Nobody Was Watching
From a $5,595.75 January peak to the low $4,200s: gold has entered a technical bear market almost unnoticed. Why the fear trade lost to the rate trade, and what survived the unwind.
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The Great Diversification: Investors Rotate Out of US Stocks
After years of US exceptionalism, investors are rotating to international markets at the fastest pace in over a decade. European fiscal expansion, dollar weakness, and extreme valuation differentials are creating the most compelling diversification opportunity since the early 2010s.
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The Strong Dollar Wrecking Ball: Global Implications
The dollar surges to a 20-year high, functioning as a wrecking ball that transmits US monetary tightening to every economy on the planet. How the strongest currency move in two decades is reshaping global capital flows, emerging market debt dynamics, and multinational earnings.