Japan is one of the most energy sensitive countries in the world and the BoJ is not (truly) willing to underpin the JPY. We aim at exploiting this in a RV trade in Asia.
Portfolio Watch: Waiting for Godot, Powell and 7.30
We see the risk outlook as extraordinarily binary at this juncture. Either the cyclical green shoots continue to get the upper hand or else we are likely headed for a recessionary type of asset environment.
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Trade Alert: Time to go down (under)!
We add to our cyclical bets in FX space with a few idiosyncratic reasons for this position as well.
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Positioning Watch – Nasdaq positioning is LONG again
Our positioning watch is back! Find out whether you lean with or against the wind in this weekly publication.
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Something for your Espresso: The deposit flight continues
Both weekly and daily indicators of deposit flight continued to show signs of money leaving the banking system for money market funds, while banks continue to underperform. Will the Fed come to accept new all-time highs for the balance sheet?
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